The simple prioritization framework provides organizations with a method to rank and prioritize initiatives based on several important factors. While it should not be the sole factor in determining what work gets done, it can be incredibly helpful when faced with an abundance of competing priorities.
The prioritization model factors the following:
- (a) Benefit to Business
- (b) Benefit to Customer
- (c) Amount (%) of Audience it Affects (on a scale of 1-10)
- (d) Cost to Implement
- (e) Cost to Measure
Then, a simple formula will give you a prioritization score:
a + b + c – d – e
While this has been implemented in a number of different ways and with varying levels of sophistication, I recommend starting to use it in a simple manner and then tailor it more to your needs (e.g. introducing weighting to different elements, etc.) as you use it more. A spreadsheet that includes a list off all of the efforts you’d like to prioritize, then ranking them on a scale (e.g. 1-10) will quickly give you a ranked list of items.
- Business Value