The Power/interest grid also known as power/interest matrix is a tool used to categorize stakeholders according to ascending power and interest in a project. It helps in the prioritization of interested parties according to the level of importance. Some of the steps involved in stakeholder analysis are identifying the stakeholders, prioritizing their power and interest, developing a good understanding of the important ones and their how their response to the work.
In a situation where one is managing a newly started project, for instance, creation of new software, such a project will involve the following stakeholders, Architect, experience lead, competitors, testing lead, plan auditors, client site manager, project sponsors, and development director. The project manager does management of stakeholders. The role of project manager is to identify and document the various interests of the stakeholders, for example, the importance of the architects and their motivation (Kerzner 12). The conflicting interest should also be singled out and identify strong relationships among the stakeholders. The level of importance of all the stakeholders is done to categorize them according to their priorities. It is done using the power and interest matrix. This aids in evaluation and analysis of the project.
Similarly, if an individual issue of a project is not doing well, it is the duty of a project manager to monitor it. In this case, the architect possesses high power and interest in this software application. His power ensures the success of this project. The project manager should monitor the architect closely. Interest is subjective, and it is easy to make errors. A stakeholder may have a higher level of interest of which it should not lead to the failure of the project.
Why projects fail
A project is said to be a failure when it has not met the required expectations. To be considered successful, a project must meet the required expectations and produce quality work in a given period. Research shows that project failures influence significantly on the global economy (Tirado 23).
Lack of appropriate authority is one of the causes of project failure. For instance, a weak sponsor frustrates and delays the project team. It leads to poor quality work and probably the project will not be completed on time as required. Projects need people who have leadership skills for it to be fruitful. Secondly, losing focus on the benefits of the projects may also lead to a project failure. For instance, a project is started due to the benefits it has to the public. They should be clear and concise for the project team to be able to deliver as expected (Kerzner 33). Risk failures contribute to the slowdown of a project. When a project fails to identify the possible risks involved, they are more likely to fall to some serious problems that may influence the project negatively. Lastly, poor budgeting of resources may also lead to the collapse of a business project.
Finally, project failure can be avoided through effective planning and project recovery. A skilled project manager should work with stakeholders by providing education and management programs to the project team to equip them with the required skills to run the project. There should be proper communication for the smooth running of the business. All the people involved should work towards the management of the set goals.
Works Cited
Kerzner, Harold. Project Management 2.0: Leveraging Tools, Distributed Collaboration, and Metrics for Project Success. N.p., 2015. Print.
Tirado, Bernardo. Maximizing Project Success Through Human Performance. London: Management Concepts Press, 2013. Print.
