The power/interest grid prioritizes stakeholders based on their project participation and control or authority. A power/interest grid for the project Stakeholder Engagement Strategies

The top management has high power and low interest in the project. The team has low power and increased interest in the project. The sponsor and investor have high power and low interest in the project. The resources manager and manager have high power and interest in the project. The contractors, subcontractors, and suppliers have low power and increased interest in the project. Essentially, stakeholders with both low power and interest must be supervised to guarantee they do not manage to alter or stop the project (Bahadorestani et al., 2020). Those with high power and interest must be actively supervised due to their crucial impact on the project.

The stakeholders with high power and low interest must be pleased to certify that a minor stakeholder does not disrupt the project. Lastly, stakeholders with high interest and low power must be kept informed to guarantee their support for the project. A stakeholder analysis is a continuing exercise that helps categorize those who oppose and support a project.

Each stakeholder’s potential impact on the project, based on power and interest

An interest/power grid equates stakeholders based on their involvement and authority in a project. With high power and low interest, the top management makes the most significant decisions, giving them high impact but limited bandwidth to focus on the project outcomes (Zhuang, 2019). They must be kept satisfied through constant communication.

With high power and interest rates, the project manager and resources manager have the most significant influence on the project’s success, and expectations must be closely managed. With increased power and medium interest, the investors and sponsors can control the project in an undesired manner if they are unsatisfied with it. With low power and high interest, the project team must be sufficiently and effectively informed. The team directly impacts the project, and each individual performs specific and unique tasks to ensure project success.

With low interest and power, the external and internal customers indirectly influence a project and should be monitored without boring them with excessive communication: the contractors, suppliers, and subcontractors. The government, with high power and low interest, regulates the regulations and decrees that can shut down a project (Zhuang, 2019).

How stakeholders will be engaged in the project on an ongoing basis

The stakeholders will be engaged on an ongoing basis through the stakeholder engagement plan. The engagement plan is part of the project management plan that categorizes the approaches and actions needed to support effective stakeholder involvement in project implementation and decision-making. 

The Water Cube’s stakeholders will be engaged on an ongoing basis by getting them to talk to one another, managing their expectations, keeping them satisfied, keeping them informed, leading with integrity, and communicating effectively. According to Zou and Leslie-Carter (2010), the most imperative strategy is hiring and leading clever individuals who might resist being controlled and working to time limits.

Getting stakeholders to communicate with one another will promote ongoing project involvement. Effective communication and constant updates about the project’s progress also help it maintain its engagement (Bahadorestani et al., 2020). Developing and upholding a communication plan is critical in ensuring a continuing engagement. Managing stakeholders closely, particularly the project team, and keeping them satisfied promotes their ongoing project engagement (Boaz et al., 2018). Engaging with sponsors, executives, and higher management to attain commitment and manage their expectations and interests encourages their engagement.

Strategies for managing stakeholder expectations

Every stakeholder has expectations. Therefore, working with the team to manage their expectations is crucial. One strategy for managing stakeholder expectations is ensuring the project’s success is plainly defined before its commencement. Defining the project variables, including its goals, is essential for managing stakeholder expectations (Pirozzi,2019). This way, the stakeholders can decide if the project matches their interests.

The second strategy involves ensuring that stakeholders see the project’s values as soon as possible. Keeping the project focused by familiarizing the stakeholders with the initial goals, pitch, and timeline helps manage their expectations (Byrne, 2019). The other strategy encompasses maintaining simplicity when communicating with the stakeholders.

Finding a mutual ground with the stakeholders to ensure they receive similar data, reports, and development updates manages their expectations (Stocker et al., 2020). Showcasing the project’s progress by o