Power and interest are two important factors that affect the success of projects. Power is the ability to influence the decisions and actions of others, while interest is the degree of involvement and concern that stakeholders have in the project. A project manager needs to identify and analyze the power and interest of different stakeholders, and use appropriate strategies to manage their expectations and involvement.
One of the tools that can help a project manager to do this is the power/interest matrix, which classifies stakeholders into four categories based on their level of power and interest: high power/high interest, high power/low interest, low power/high interest, and low power/low interest.
The project manager can then tailor the communication and engagement plan for each category of stakeholders, depending on their needs and influence. For example, stakeholders with high power and high interest should be closely consulted and involved in the project, while stakeholders with low power and low interest should be kept informed with minimal effort.
By understanding the power and interest of stakeholders, a project manager can effectively manage their expectations, reduce conflicts, increase support, and ensure the project’s success.