Are you going for creating mapping matrix of your project’s stakeholder? In this article, you will easily create mapping through Templates (visually presenting) both documentation (Excel) and PPT (PowerPoint).
Managing stakeholders strategy through mapping technique is traditional – Many innovative trends are also included, as a manager you just need to be taken for sake of project success.
In this topic, we are going to cover, why mapping is so important, and how the project manager utilizes different tools/templates for managing easily.
Related Topic: Stakeholder VS Shareholder
- Define, Analyze, Plan manage and engagement is the tradition step of the stakeholder mapping process
- PPT slides and Excel-based templates will help you regarding creating a quick summary on project situation during any stage
- These templates provide project manager unique tool –managing their project for stakeholder reporting
- Before and after the start of the project these templates help you
- For stakeholder analysis, you need some charts or visual presentation for draft reporting for company CEO or other boards of directors
- Increase percentage of project success – After the mapping of stakeholder
- These analysis charts will help you in future projects, selection of stakeholders
What is Stakeholder Mapping?
Actually, this system is a framework, which identifies each issue and problems and addresses stakeholders accordingly. If multiple projects running, assigned multiple stakeholders, then this mapping technique is the best in that situation.
The output of the mapping process is a stakeholder map that allows visualizing the project’s various stakeholders, their level of interest in the project and their possible influence on project outcome. It is important to use stakeholder mapping techniques assume stakeholders have power over the project, some have shares in the project, while other stakeholders are the suppliers or customers who sell or buy the product.
Some stakeholders hold more power and have a great interest in the project while few are those who are a tough sense of maintaining their interest and influence over the project. A stakeholder map helps to differentiate key stakeholders from a list of stakeholder base on their interest and potential to impact the project.
There are 4 key steps to Map stakeholders
The traditional approach depends on 4 universal factors of mapping. Later, we will discuss each step of mapping.
- Define Stakeholders
- Analyze stakeholders by influence and interest
- Plan stakeholder communication and reporting process
- Make a stakeholder engagement plan
There are some stakeholder mapping techniques that can be used to effectively map stakeholders along the project lifecycle to get maximum out of them. Maintaining a Stakeholder risk register is also the key strategy of management.
- Power versus Interest Grid
- Influence-Impact Grid
- Power-Influence Grid
- Importance-Influence Grid
- Salience Model
Usually, grid or matrix base of 4 big boxes, which define interest VS power ratio.
- Stakeholders with high interest and power are written in Top Right Corner.
- Top left corner shows stakeholders with less interest but high power.
- Stakeholders in the bottom right corner have high interest but low power.
- Low power and low-interest stakeholders make their place in the bottom left corner.
Stakeholder Mapping & Project Management Implementation
Any project isn’t starting without stakeholders, especially the Giant organization. They just looking for good stakeholders to participate in the project.
Key Responsibilities towards Mapping Process
The project manager’s responsibility to manage every aspect relates to Budget, team, Communication for address stakeholders.
- Keep up-to-date stakeholder with the current on-going progress of the project
- Streamline the flow of communication
- Using different tools/template for reporting
- Each type of stakeholder manage efficiently (executive stakeholders, technical stakeholders, marketing stakeholders)
- Coordinated with company department
Stakeholder Mapping Template
We have a complete set of stakeholder analysis template with grid, charts and PPT slides. An example of the template is shown below, the trial version you can download on request.
We could also create a custom template for your request.
In addition, stakeholder mapping strategy is the best way to deal with stakeholders relates to project planning. You can easily mitigate risk, 100% chances of project success. The project success rate depends on your overall strategy, through project management tools.
Note: For more information about stakeholder management techniques, request us.