How to Prioritize Projects?

http://makeitrational.com

How to Prioritize Projects? (or anything else…)

Project Priority

Project 1 ?

Project 2 ?

Project 3 ?

Project 4 ?

Project 5 ?

Project 6 ?

Project 7 ?

Project 8 ?

Project Priority

Project 1 6%

Project 2 12%

Project 3 17%

Project 4 16%

Project 5 9%

Project 6 22%

Project 7 10%

Project 8 8%

How to prioritize projects?

Prioritization process

1. Define goal and criteria.

2. Establish weights of criteria.

3. Score alternatives.

4. See results.

Define goal and criteria

Goal: Prioritize projects

Strategic alignment

Profitability Risk Value to

Customer

Prioritization process

1. Define goal and criteria.

2. Establish weights of criteria.

3. Score alternatives.

4. See results.

Establish weights of criteria (1/3)

• Compare criteria in pairs, each time: • choose the more important one,

• choose the level of dominance on a 9-point scale.

• Software transforms your comparisons into weights.

• Deriving weights from comparisons is based on Analytic Hierarchy Process.

Establish weights of criteria (2/3)

This is your input

Establish weights of criteria (3/3)

Output from software

Criterion Weight

Strategic alignment 58%

Risk 18%

Value to Customer 13%

Profitability 11%

Total 100%

Prioritization process

1. Define goal and criteria.

2. Establish weights of criteria.

3. Score alternatives.

4. See results.

Score alternatives

Define rating scales that model your preferences (examples below) and use them to score alternatives in context of criteria.

Value Risk

6 Very low

4 Low

2 Moderate

0 High

Note: more preferred = higher value

Value Strategic alignment

0 Low

1 Medium

2 High

Prioritization process

1. Define goal and criteria.

2. Establish weights of criteria.

3. Score alternatives.

4. See results.

See results

Project Priority

Project 1 6%

Project 2 12%

Project 3 17%

Project 4 16%

Project 5 9%

Project 6 22%

Project 7 10%

Project 8 8%

Note: This method can be used to prioritize anything else e.g. vendors, locations,

employees, markets…

Try it now

1. Try online demo (no registration required): http://makeitrational.com/demo

2. Open project “Prioritize projects”

3. Play with it e.g.: • add/remove projects and criteria

• change comparisons and rates

• analyze results

4. If you have any questions: [email protected]