While this type of matrix is used effectively within many organizations, it is also a great tool for helping project teams with decision making, such as selecting projects, determining which measurement instrument to use, or how to manage new processes. A Prioritization Matrix can be used in making business decisions and to facilitate teams.
Members of your team, stakeholders, and project managers can utilize the benefits of a matrix when determining the most important issues within your business workflows. A Prioritization Matrix usually is a 4 column table. The first column contains a list of known issues. The 2nd-4th columns contain the criteria for ranking each issue.
Examples of typical criteria:
- Frequency:
How frequent is the problem? Does it occur often or on rare occasions? - Importance:
From the user’s point of view, what are the most important problems? What are the problems that need to be resolved? - Feasibility:
How realistic is it that the problem can be resolved? Will it be easy or difficult?
Each team member votes 3 times for each criterion, voting 9 times in total. The total number of votes clearly defines how to prioritize issues.
The Prioritization Matrix is a great tool, but can take a lot of time to do manually. ConceptDraw PRO makes creating a Prioritization Matrix easy.
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