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Stakeholder Analysis Matrix

5 minutes 5 Questions

The Stakeholder Analysis Matrix is a strategic tool used to systematically evaluate and document stakeholders' levels of interest, influence, expectations, and potential impact on a project or business analysis initiative. By categorizing stakeholders within this matrix, business analysts can identify appropriate engagement and communication strategies tailored to each stakeholder's needs and influence level. The matrix typically includes attributes such as the stakeholder's role, interests, power, influence, expectations, and communication requirements. Creating a Stakeholder Analysis Matrix involves listing all identified stakeholders and assessing various aspects like their power over, interest in, and attitude toward the project. This assessment helps prioritize stakeholders and determine who requires more attention or specific management strategies. For example, stakeholders with high influence and high interest need to be closely managed through regular interactions and involvement in decision-making processes, whereas those with low interest and low influence might only require minimal monitoring and general updates. The use of the Stakeholder Analysis Matrix ensures that no key stakeholders are overlooked and that their needs are understood and addressed appropriately. It aids in anticipating stakeholders' reactions to project decisions or changes, enabling proactive engagement strategies to minimize resistance and enhance support. Additionally, the analysis can reveal potential conflicts between stakeholders that need to be managed to ensure project success. This tool is essential for effective stakeholder management as it helps develop action plans that align stakeholder expectations with project objectives. By regularly updating the matrix throughout the project lifecycle, business analysts can respond to changing stakeholder dynamics and maintain effective relationships. This ongoing process contributes to smoother project execution, improved stakeholder satisfaction, and the achievement of desired business outcomes.

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PMI-PBA - Stakeholder Analysis and Engagement Example Questions

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Question 1

What is the primary purpose of using a Power/Interest Stakeholder Analysis Matrix in business analysis?

Correct Answer: To classify stakeholders based on their influence and engagement level to develop appropriate management strategies

The Power/Interest Matrix is a strategic tool used to prioritize stakeholders based on two key dimensions: their power (influence) over the project and their interest in it. The correct answer reflects the true purpose of this matrix - to categorize stakeholders based on their influence and engagement levels, which helps in developing appropriate management strategies for each group. This categorization enables the business analyst to determine how to best engage with different stakeholders throughout the project. The other options are incorrect because: - Identifying salaries and organizational positions is more related to organizational structure analysis, not stakeholder prioritization - Evaluating technical expertise and implementation capabilities is more relevant to resource management and team formation - Mapping geographical locations and time zones is related to logistics and communication planning, but not the primary purpose of the Power/Interest Matrix The Power/Interest Matrix helps create focused stakeholder engagement strategies, ensuring that high-power, high-interest stakeholders receive appropriate attention while other stakeholders are managed according to their respective positions in the matrix.

Question 2

When placing stakeholders in a Stakeholder Analysis Matrix, which combination should indicate the stakeholder be managed closely?

Correct Answer: High power and high interest

In a Stakeholder Analysis Matrix, stakeholders with high power and high interest should be managed closely because: 1. These stakeholders have significant influence over the project and are highly invested in its outcomes 2. They can greatly impact the project's success or failure 3. Their combination of power and interest makes them key players who require regular engagement 4. Close management helps ensure their influence supports project objectives Other options are less critical for close management: - Medium power with high commitment still lacks the significant influence level requiring close management - High influence with moderate participation indicates less immediate need for constant engagement - Low power with extensive knowledge, while valuable, poses less risk to project outcomes and requires less intensive management The power-interest combination is a fundamental principle in stakeholder management, where those with both high power and high interest require the most attention and careful management strategy.

Question 3

In a Stakeholder Analysis Matrix, what is the recommended engagement approach for stakeholders positioned in the low power/low interest quadrant?

Correct Answer: Monitor with minimal engagement and periodic updates

In stakeholder analysis, the low power/low interest quadrant represents stakeholders who have minimal influence and show limited interest in the project. The best approach is to monitor these stakeholders with minimal engagement and periodic updates. This is efficient and appropriate because: - It matches their low level of interest - It acknowledges their limited influence on the project - It maintains awareness while conserving project resources - It allows the team to focus more attention on high power/high interest stakeholders The other options are incorrect because: - Providing detailed weekly reports and regular face-to-face meetings would be excessive and wasteful for stakeholders with low interest and power - Maintaining active communication channels and seeking frequent input would be inappropriate given their low engagement level - Keeping satisfied through strategic alignment is more suitable for high power/low interest stakeholders and would be unnecessary in this case

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