Using the power and interest grid for stakeholder management

Power and Interest Grid for Stakeholder Management

The power and interest grid is a tool used in stakeholder management to differentiate stakeholders based on their level of interest and influence. It helps in categorizing stakeholders into four main groups based on their power and interest in a particular initiative.

The 4 Types of Stakeholders

1. High Power and High Interest: These key stakeholders have significant influence and interest in the initiative and are crucial collaborators.

2. Low Power and High Interest: Stakeholders with high interest but less influence should be kept informed as they may become influential in the future.

Benefits of Using the Power and Interest Grid

• Simplifies stakeholder management with a single tool.
• Evaluates stakeholders based on two criteria for tailored strategies.
• Helps in addressing the complexity of managing various stakeholders efficiently.

Tips for Product Managers

• Always prioritize knowing key stakeholders (high power and interest).
• Proactively engage stakeholders to increase their interest and involvement.
• Combine stakeholder identification with engagement for effective stakeholder management strategy.

By utilizing the power and interest grid, product managers can effectively manage their stakeholders and ensure the success of their initiatives.