What is a Project Prioritization Matrix?
A project prioritization matrix is one of the Project Planning Tools which is used during brainstorming to evaluate a number of issues based upon certain criteria and arrive at a prioritized list of items. It helps to consider the opinion of everyone in a brainstorming session, as well as give weight to various criteria and prioritize pressing problems over others. This helps determine which problems need to be solved first in order to meet project and organizational objectives. [caption id="attachment_133082” align="aligncenter” width="640”] The prioritized matrix can help guide your project work[/caption]
People, Place and Purpose
People: This represents the entire team or the problem solving project group which is trying to arrive at a consensus. Place: This represents the brainstorming session. Purpose: The purpose behind using the Prioritization Matrix is to identify which are the more pressing issues that need to be addressed first.
Simple Prioritization Matrix vs. Weighted
A simple prioritized matrix is one in which each factor has an equal importance while a weight project prioritized matrix is one in which some factors may be more important than others and may therefore be given a higher weight. A weighted prioritization matrix is more commonly used as it has more relevant use in widespread applications (because some evaluation criteria are usually more important than others).
Steps Involved in Creating A Prioritization Matrix
The steps involved in creating a Prioritization Matrix are as follows: Brainstorm
- Identify the problems which need to be addressed. Create a list of problems to be discussed.
- Identify the key criteria on the basis of which these problems are to be evaluated. Also, determine the relative weight given to each criteria.
Draw the Prioritization Matrix Chart (as indicated in the sample given below)
- In the first column, list down the problems which have been identified in the brainstorming session.
- From the 2nd column onwards, list down the criteria for evaluation along with their weight (if any).
Ranking the Problems
- Make all the participants rank each of the problems on a pre-determined scale against each of the evaluation criteria.
- Repeat this process if required to obtain multiple votes from each participant.
Total the results
- Compute the total ranking for each problem.
- This helps obtain a prioritized list of problems to work upon.
Prioritization Matrix is one of the Project Planning Tools which is also utilized in the Improve Phase of the DMAIC Process. A sample structure for a Prioritization Matrix with 3 criteria is given below.
[caption id=”” align="aligncenter” width="600”] Prioritization Matrix Structure[/caption]