JUN 27 2023 Procurement

Master Stakeholder Mapping for More Effective Engagement

Most procurement projects involve many different stakeholders. Engaging and collaborating effectively with these critical partners can help you generate value in several ways, from finding cost-saving opportunities and negotiating better terms to improving risk management and stimulating supplier innovation. Using stakeholder mapping, you can gain valuable insights into their unique perspectives, needs, and influence on the project. You can then tailor your communication and management strategies for better engagement throughout the project’s lifecycle. 

What Is Stakeholder Mapping?

This step-by-step process identifies and prioritizes critical stakeholders based on their level of interest, influence, and importance.

Here’s a quick, step-by-step guide to stakeholder mapping:

  1. Identify Stakeholders: Create a list of all the individuals, groups, or organizations interested in the project or that can influence its outcome. This can include internal stakeholders (employees, executives, and departments) and external stakeholders (customers, suppliers, regulators, and community groups).

  2. Determine Stakeholder Criteria: Define the criteria you will use to assess stakeholders. The most common criteria include a level of interest in the project, influence or power to impact the project’s success, and importance or relevance to the project’s objectives:
  1. Map Stakeholders: Create a visual representation of stakeholders based on your assessment of their level of interest and influence. The horizontal axis represents the level of influence or power of stakeholders, ranging from low to high. The vertical axis represents stakeholders’ level of interest or involvement in the project or initiative, ranging from low to high.

    See the stakeholder mapping grid below:
Master Stakeholder Mapping for More Effective Engagement
    1. Analyze Categories: Analyze your stakeholder map to identify different categories or groups. Common ones may include key stakeholders (high influence, high interest), supporters (high interest, low influence), influencers (high influence, low interest), and others based on their specific characteristics.

    2. Prioritize Stakeholders: Determine the importance or priority of each stakeholder category. Prioritization helps you allocate resources and focus your engagement efforts on critical partners with the most significant impact or influence on the project’s success.

    3. Develop Engagement Strategies: Based on your mapping analysis, develop tailored strategies to effectively engage and communicate with each stakeholder category. Consider their interests, concerns, and communication preferences to establish positive relationships, manage expectations, and address their needs.

    4. Update Regularly: Stakeholders’ interests and influence can change over time. It’s essential to regularly review and make updates as the project progresses or circumstances change. Regularly reassess stakeholder interests, influence, and importance to ensure your engagement strategies remain relevant and effective.

    Stakeholder mapping is a valuable tool that can help you improve the chances of success of your project or initiative. By taking the time to identify, assess, and categorize your stakeholders, you can develop better engagement strategies that help you build greater support and achieve business objectives.

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    #Stakeholder Management
    #Stakeholder Relationships
    #Strategic Sourcing