What matrix helps to define how to manage stakeholders?

CORRECT TEXT

What matrix helps to define how to manage stakeholders?

Answer: Stakeholders are individuals or organizations who are directly affected by a decision for example, community, shareholders, employees, suppliers, distributors, customers etc. stakeholders can be internal (employers, staffs), connected (such as suppliers, shareholders, financers and customers) external (Government, pressure groups, and community).

The matrix that helps define how to manage stakeholders is mendelow’s stakeholders manage-ment matrix. This matrix is based on the theory that the level of management stakeholders require depends on the level of their power and interest within the project or organization

The matrix groups stakeholders in to four quadrants according to their power and interest and ad-vice how to manage them.

1) Low power C Low interest (minimum effort)

2) Low power C High interest (keep inform)

3) High power C Low interest (keep satisfied)

4) High power C high interest (manage closely)