Overview: The Stakeholder Wheel, also known as the Stakeholder Analysis Wheel or Stakeholder Mapping, is a visual tool used to identify and analyze stakeholders in a project, organization, or initiative.
Purpose: The purpose of the Stakeholder Wheel is to assess and prioritize stakeholders based on their level of interest and influence, helping organizations understand how to engage and manage their stakeholders effectively.
Visual Representation: The Stakeholder Wheel is typically represented as a circular diagram with quadrants, where stakeholders are plotted based on their level of interest and influence, creating a visual representation of their relative importance.
Quadrants: The Stakeholder Wheel typically consists of four quadrants: High Power/High Interest, High Power/Low Interest, Low Power/High Interest, and Low Power/Low Interest. Each quadrant represents a different type of stakeholder with varying levels of importance.
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Power: Power in the Stakeholder Wheel refers to the stakeholder's ability to influence the project or organization, which can come from their position, authority, resources, or expertise.Interest: Interest in the Stakeholder Wheel refers to the stakeholder's level of concern or involvement in the project or organization, which can come from their perceived impact, benefits, or risks.
Analysis: The Stakeholder Wheel helps organizations analyze and prioritize stakeholders based on their placement in the quadrants, identifying stakeholders that require more attention or engagement due to their level of interest and influence.
Engagement Strategies: The Stakeholder Wheel assists in developing appropriate engagement strategies for each quadrant. For example, stakeholders in the High Power/High Interest quadrant may require active engagement and close communication, while those in the Low Power/Low Interest quadrant may need minimal effort.
Communication Planning: The Stakeholder Wheel helps organizations plan communication strategies by identifying stakeholders with high interest and influence, who may require targeted messaging to ensure their support and buy-in.
Decision Making: The Stakeholder Wheel serves as a decision-making tool, helping organizations prioritize stakeholders and allocate resources, time, and effort accordingly, to effectively manage stakeholder relationships.
In summary, the Stakeholder Wheel is a visual tool used to identify and analyze stakeholders based on their level of interest and influence. It helps organizations assess stakeholder importance, develop engagement strategies, plan communication, and make informed decisions to manage stakeholder relationships effectively.
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