First, Identify the stakeholders through brainstorming.
Once the list of stakeholders is available, next step is to classify them by their Power over the work and by their Interest in in the project work.
Then a 2 X 2 grid as shown in the picture will evolve
A stakeholder's position on the grid shows the action plan one has to take with them:
High Power, High Interest Stakeholders:
These are the people one must fully engage with, and make the greatest efforts to satisfy.
High Power, Low Interest Stakeholders:
One needs to engage these stakeholders to keep them satisfied, but not so much that they become bored with the message
Low Power, High Interest Stakeholders:
The Project Manager has to keep these people adequately informed, and talk to them to ensure that no major issues are arising. These people can often be very helpful with the detail of the project
Low Power, Low Interest Stakeholders: The PM has to monitor these people, but do not bore them with excessive communication.
This way the PM can ensure that the stakeholders are apprised with the right dosage of information.
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