How is a stakeholder matrix typically structured?

A stakeholder matrix is typically structured by assessing the levels of influence and interest that different stakeholders have in relation to a project or initiative. This structure allows business analysts and project managers to categorize stakeholders in a way that clarifies their engagement needs. For example, stakeholders who have a high level of influence and high interest might be managed closely and regularly informed, while those with low influence and low interest may require less frequent communication.

This method effectively visualizes the relationships and engagement strategies necessary for successful project outcomes. By focusing on influence and interest, the stakeholder matrix helps in prioritizing resources and efforts towards managing stakeholder expectations and contributions throughout the project lifecycle.