Prioritization Notes

The best ideas on how to make a decision on what to do next

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Decision Making

Decisions must be based on data. Otherwise, you risk missing vital factors and end up with unsatisfactory results. Use quantitative rankings, charts, and matrices with values directly tied to your customer feedback and product strategy to help you with decision-making.

Value vs. Risk Matrix

2x2 matrix for prioritizing initiatives.

Risk options:
  • Schedule risk—Can’t be realized in time.
  • Cost risk—May cost more than allowed.
  • Functionality risk—Not able to implement.
Make two separate assessments of each initiative:
  • How much value will the initiative deliver?
    Scored: High Value / Low Value
  • How risky is the implementation?
    Scored: High Risk / Low Risk
Results:
  • High Value + Low Risk → Do First.
  • High Value + High Risk → Do Second.
  • Low Value + Low Risk → Do Last.
  • Low Value + High Risk → Avoid.
Decision Making
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Value vs. Risk Matrix
https://university.hygger.io/en/articles/2399041-value-vs-risk-model