Acknowledgement of a contribution given by colleagues rather than awarded down a management line, usually through nomination or an open thank you.
Recognition that flows only downwards carries an implicit claim that the manager saw everything, which is never true on a piece of work of any size. Colleagues see what a reporting line does not: who unblocked whom, who answered the question late on a Friday, whose careful sequencing meant nothing broke. The cheapest form is a standing minute at the end of a review where anybody may name somebody else, which needs no budget and no scheme. It stops working the moment it acquires nominations, a monthly winner and a rota, because a competition has one victor and a field of losers, and anything scheduled is no longer unexpected.
Where this comes up
One row per stakeholder, one column per engagement level, and two marks per row. The distance between the two marks is the only thing on the grid you can actually act on.
Three attributes, seven classes, one question: whose claim gets attention first. Hold all three and you are a definitive stakeholder, and definitive stakeholders do not wait.
A reward is set in advance and conditional. Recognition is retrospective, unexpected and free. Most project managers control the second and none of the first, which decides where the effort goes.