Once you have identified all of the projects stakeholders the next is step is to Priortize them. Stakeholder prioritisation is the process of ranking stakeholders based on their level of interest in or impact on a project. When a project has a large number of stakeholders, this can assist the project team focus on the most essential stakeholders and efficiently manage their wants and concerns.
When doing a stakeholder analysis, it is critical to analyse each stakeholder’s level of effect and interest. This includes analysing how much the stakeholder will be affected by the project and how much they will care about it.
Download: Stakeholder Priortization Matrix
Consider the following questions to determine the level of impact:
How much will the project effect the stakeholder?
How much influence does each stakeholder have over the project?
How much power does the stakeholder have over the project’s outcome?
Based on the responses to these questions, you can give a level of effect to each stakeholder, such as high, medium, or low.
Consider the following questions to determine the level of interest:
How much does the stakeholder care about the project?
How much does the stakeholder stand to gain or lose from the project?
How involved is the stakeholder in the project?
Based on the responses to these questions, you can give a level of interest to each stakeholder, such as high, medium, or low.
Assessing each stakeholder’s level of influence and interest is a crucial stage in stakeholder analysis since it helps to prioritise stakeholders and identify how best to engage with them. It is also critical to review and update these assessments on a frequent basis as the project continues, as stakeholders’ interests and priorities may shift over time.