![]() It typically contains a mix of strategic and tactical initiatives, growth-driven and cost-driven initiatives, and customer-focused and employee-focused projects.” Brache’s 2009 HBR.org article: “A project portfolio, like an investment portfolio, should be diversified. ![]() I like this statement from Sam Bodley-Scott and Alan P. You’ll need to know from other areas what is important to the organization, and how important these criteria are. You’ll want to ensure that initiatives support corporate objectives, so you’ll need to be clear on what those are. The key decision-makers can help validate the criteria you’ve selected. ![]() Identifying these criteria will require input from others. This gives you a more solid decision-making basis. You need to be able to “score” projects against one another. When putting projects in sequential order, you need to have a well thought out list of criteria on which to base your prioritization. Determine the project prioritization criteria It’s important to put thought into intentional decision-making and prioritization.Īnd a project prioritization matrix can help.Ī 2. When deciding how to allocate those resources and ensure that you’re working on the most valuable initiatives, it helps to have some visibility and process around the project selection exercise. You have a limited budget and only so many team members to do the work. ![]() And most likely your organization cannot undertake every project on the list. By resources, I’m referring to both money and human capital – those team members who do the work. Or perhaps someone is very passionate about their pet project, and can influence decision-makers to give it top priority, regardless of what else is in the queue.īut there are only so many resources. Someone comes up with an idea, and it gets approved without real discussion, and resources are assigned. Many times today, organizations initiate projects without real thought behind the drivers. And that something else might be a compliance issue that could wind up costing a lot in the long run. If you do a project first only because someone asked for it, you are by default deciding NOT do so something else. You have to decide which projects get done first. You only have so much of both funding and skilled resources, so you have to determine how to allocate these. I envisioned guests getting nailed in the head with falling lumber while standing at the front door that work got quickly moved to the top of the list and outsourced. Like when boards started falling from the eaves. Of course, things shifted around at times. We had to determine what was most important to us and the order in which we’d tackle the long list of work. Since we couldn’t fund it all at once, and we only had so much time, we needed to determine what order we’d do the work. We took on this renovation project, and it was actually fun – for the first two years.īut we were committed and had decided to do most of the work ourselves. There was cracked and falling plaster in every room, along with lots of beautiful old wallpaper that couldn’t be saved. There are even a few stained glass windows, and the house has lots of character. It’s a beautiful home with high ceilings and hardwood floors. So much to do – and only so much to do it withġ2 years ago, my husband and I purchased an old home built in 1899. Using agreed-upon criteria for scoring, you can prioritize work clearly for sound decision-making and choose where to best invest your your resources. Using a project prioritization matrix helps give clarity. When there are so many projects that can compete for attention, it’s hard to know what the primary focus should be.
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