Explain Power Versus Interest Grid techniques used for Stakeholder Analysis?

Power Versus Interest Grid

First stakeholder analysis technique is power-interest grid. Let's go through this stakeholder analysis technique.

Following are the steps for constructing a power-interest grid during stakeholder analysis in a project.

1. Identifying the different Stakeholders who are part of the project
   
2. Determine the interest (concern) stakeholders have and how much power(authority) they must change the direction of the project
   
3. A 2x2 matrix with Power on the Y-axis and Interest on X-axis is plotted as shown in the figure above. The power of stakeholder increases as one moves from bottom to top along the Y-axis. Interest of stakeholders increases from left to right on the X-axis.
   
4. Classify stakeholders based on their power and interest
   
5. The stakeholders in the top right corner of the grid have high power and interest. PM needs to work closely with these and ensure that they are consulted, collaborated with and engaged completely
   
6. The stakeholders in the top left corner of the grid have high power but less interest. PM needs to keep this category satisfied but not go into the details and on daily basis