Project prioritization tool: An automated workbook
When you’re deciding which projects to keep and which ones to scrap, you need an effective way to establish priorities. This download explains a basic collaborative approach and includes a tool to make the process easier.
From the download:
No organization has the resources to do every project that comes along. One of the key functions of corporate leadership is deciding which initiatives are going to move forward and which ones need to be tabled. For an IT department to be successful, an effective approach to prioritization is key.
A mature organization will have a formal prioritization process. Projects will be defined and scoped. A business case will be developed. Maybe the project will be passed up to a PMO who will vet it and analyze it with respect to corporate strategy. In this world, projects are prioritized based on factors such as:
- Business value
- Resource availability
- Strategy alignment
In other organizations, the process may not be as formal. Perhaps the CEO makes some of the decisions unilaterally. Maybe each business owner lobbies for his or her own initiatives. Maybe the corporate opinion on what is most important shifts from week to week (or from day to day). In this world, prioritization may be based on the factors above. But it may also be based on:
- Whoever is talking the loudest
- Knee-jerk responses to some unexpected event
Needless to say, the first list is a better set of criteria than the second.