Stakeholder mapping is the visual process of laying out all the stakeholders of a product, project, or idea on one map. The main benefit of a stakeholder map is to get a visual representation of all the people who can influence your project and how they are connected. Sometimes, people confuse stakeholders with shareholders. While shareholders own a part of a public company (through shares of stock) and are interested in the company’s performance, it doesn’t mean they should be stakeholders of each project or product launched by the company. Stakeholders can work on a more granular level and they are also often interested in the project’s or product’s performance. When building a new product from scratch you’ll need to know the stakeholders for different groups. The number and the roles of stakeholders may vary depending on the type of product you are working on. Knowing your audience is critical for creating a product that people will love. Think of the groups of people you are serving and their needs. As a product developer, you can’t ignore what’s happening in your field, so brainstorming potential competitors, outlining market regulations, and writing down major trends can be very useful. If your product needs substantial investments, you might want to include venture capital firms as major stakeholders since they will have the power to influence your product’s future. If you’re trying to penetrate a new market with your product you will also need to designate a few stakeholder groups – new customers, old customers, new retailers. Starting a new project will also need stakeholders internally – Project Manager, Developer, Designer, CEO / C-Level exec. All stakeholders can fall into four categories – High power, highly interested people (Manage Closely), High power, less interested people (Keep Satisfied), Low power, highly interested people (Keep Informed), Low power, less interested people (Monitor)
The Stakeholder Map template consists of four slides that have all the tools you need to build a professional presentation. The first slide can be used to prepare the stakeholder matrix. Using this matrix, you can easily determine the impact of stakeholders on your project. The next slide allows you to divide your stakeholders into specialized groups. This slide will be useful for product owners and project managers. The next slide will be useful for managers when preparing large projects that require coordinated work of all departments. You will be able to imagine the complex connections between departments and the main tasks that they will need to solve. The last slide can be used by healthcare professionals when preparing information about the process of rehabilitation or treatment of a complex disease. You can indicate on the slide the main stakeholder groups (family, doctors, rehabilitation services) and the main tasks that can help the patient to recover. Stakeholder Map template provides the ability to change the color, size and position of all blocks on slides. The template will be useful for startups and software developers.