When analyzing stakeholders, what are they ranked on?

Stakeholders are ranked based on their authority and interest level because these two factors determine how much influence they have over a project and how eager they are to see its outcomes. Understanding a stakeholder's authority helps project managers identify who has the power to make decisions or impact the project positively or negatively. Interest level indicates how much impact the project will have on the stakeholder’s goals or objectives, which affects how much they will engage with the project. By assessing both authority and interest, project managers can develop effective communication and engagement strategies tailored to each stakeholder’s position, ensuring that their concerns are addressed and their input is considered throughout the project lifecycle. This ranking is essential for stakeholder management and ultimately influences project success.