Prioritising projects to Key Management members. How do you do it?

[jayman21]

I have just completed the first phase of my analysis work which looks into an organization within the procurement industry to identify key areas for improvements. (i.e. identify projects which can be implemented to enable the organization better services its customers).

Identified projects cover IT (Technical) and non IT projects. There is now a need for me to present to management these recommendations but in a manner to enable them prioritise due to budget, resource etc.

Question: Is there a better way (spreadsheet template, grid template etc) to do this? If yes would like to have suggestions and templates which can help support my aim.

Look forward to urgent responses. Thanks you.

[NickC]

Hi Jayman

You mean like a decision matrix?

I think there are plenty of templates available if you search 'decision matrix' but it may be best to create your own. That way you can structure it in away that supports you unique requirements.

Here is a simple example though:

http://www.mikeswanson.com/blog/files/D ... Matrix.xls

Personally, I think you need to be very careful with these as I think it's dangerous to make decisions purely based on a weighted number. It depends how literally your audience will take the presentation.

Consider an identifiable set of benefits relating to (for example) time, cost, quality etc.
As well as having one master matrix, you can also have a matrix for each benefit type, because this will allow different departments to compare projects against their own priorities i.e. accounts will be mainly interested in capital investments, cash-flow etc.

Also consider your corporate strategy. Some projects may not provide key benefits immediately but may lay down good foundations for future growth, for example working for low returns on a project that may result in developing a key partnership for the future.

Let us know how you get on.

Nick

[George Huhn]

Consider trying our product Bubble Chart Pro PLUS. Bubble Chart Pro PLUS combines a simple multi-attribute ranking (SMART) system for prioritizing projects with an interactive bubble charting system. The beauty of this approach is that you can graphically see the results of the prioritization in multiple dimensions, which makes understanding the trade-offs between projects much clearer than if you're only using spreadsheets and tables.

You can try it for free at:

http://www.bubblechartpro.com

[jayman21]

Hi Jayman

You mean like a decision matrix?

I think there are plenty of templates available if you search 'decision matrix' but it may be best to create your own. That way you can structure it in away that supports you unique requirements.

Here is a simple example though:

http://www.mikeswanson.com/blog/files/D ... Matrix.xls

Personally, I think you need to be very careful with these as I think it's dangerous to make decisions purely based on a weighted number. It depends how literally your audience will take the presentation.

Consider an identifiable set of benefits relating to (for example) time, cost, quality etc.
As well as having one master matrix, you can also have a matrix for each benefit type, because this will allow different departments to compare projects against their own priorities i.e. accounts will be mainly interested in capital investments, cash-flow etc.

Also consider your corporate strategy. Some projects may not provide key benefits immediately but may lay down good foundations for future growth, for example working for low returns on a project that may result in developing a key partnership for the future.

Let us know how you get on.

Nick

Thanks Nick. Apologies for responding late. Yes just like a Matrix to enable prioritising easier. Thanks for the spreadsheet you shared. I actually achieved my objective using two approaches:

Approach 1: I used a similar spreadsheet just like yours but the criteria were:

1. Strategic Value: For each Potential Project (Product), how important is this project to the organization’s overall strategies? (1= highly important and 5 = Not Important)
2. Ease: For each potential Project (Product), how easy will the project be completed? (1= Very Easy and 5 = very Difficult)
3. Cost: For each potential Project (Product), will it cost a lot to execute it? (1= Low Cost and 5 = High Cost)
4. Resource Impact: For each potential Project (Product), will it have an impact on our resources (i.e. people, equipment etc)? (1= Low Impact and 5 = High Impact)
5. Time Lines: For each potential Project (Product), will it take a while to implement? (1= Short Term Implementation and 5 = Long Term Implementation)

The lower the score the higher the Project's Priority

Approach 2: The use of a priority Matrix quadrant using Effort (Effort required to execute the project i.e cost and HR) against Impact (Impact the project will have on the business) hence plotting the projects based on the criteria into:

1. Quick Wins (High positive Impact and Low effort required
2. Major Projects (High Positive Impact and High Effort)
3. Fill Ins (Low Impact and Low Effort)
4. Thankless Tasks (Low Impact and High Effort)

I think the outcome was great.

[jayman21]

Consider trying our product Bubble Chart Pro PLUS. Bubble Chart Pro PLUS combines a simple multi-attribute ranking (SMART) system for prioritizing projects with an interactive bubble charting system. The beauty of this approach is that you can graphically see the results of the prioritization in multiple dimensions, which makes understanding the trade-offs between projects much clearer than if you're only using spreadsheets and tables.

You can try it for free at:

http://www.bubblechartpro.com

Hi George,

This is a pretty smart tool. I only wish I came across this before setting off on my spreadsheet adventure. I have now made a note of the product and plan to utilise it in the near future.

Thanks