Prioritization Framework

I was cleaning out some files over the weekend and came across an old prioritization matrix that we used at Ernst & Young when I was a consultant there. I found it to be relatively easy to use and understand so I thought I would share it. Ever person I know always struggles with how to select which project to do using a consistent framework that takes into account more than simply financial ROI.

We ranked each of the following on a scale of 1-5 and weighted each category to total 100%:

• Potential Value
  • Strategic alignment (5 = enterprise sustaining and helps build learning organization vs. 1 = tactical)
  • Financial impact (5 = high ROI, lowers costs, and is growth oriented vs. 1 = lowers costs)
  • Customer satisfaction impact (5 = affects all constituents, builds loyalty, and creates differentiation vs. 1 = affects only one constituent)
  • Competitive status (5 = used by all traditional and evolving competitors vs. 1 = used by no competitors)
• Ability to Execute
  • Organizational readiness (5 = requires minimal cultural, process, or technical change vs. 1 = requires new systems, business model, and staff)
  • Proven technology ( 5 = implemented at multiple sites with proven value proposition vs. 1 = concept only, no proven value proposition)
  • Time and resources required to implement ( 5 = resources easily accessible and can be broken into 3-6 month deliverables vs. 1 = scarce resources and no deliverables until after 12 months)