Prioritizing Projects and Requirements for Organizational Success
The need for prioritization appears when multiple projects are planned in an organization and there is a shortage of resources to execute all the projects in a timely manner. In order to deliver business goals and objectives, an organization needs to focus on projects that provide strategic value. There comes the need to prioritize these projects. This article briefs the significance of prioritization, various factors determining prioritization, how the approach varies across waterfall and agile methodologies, and various prioritization methods involved.
Prioritization is one of the big concerns in current organizations (Zacarias, 2015), as many companies face challenges in prioritizing and aligning their individual projects to company goals and objectives. The need to prioritize projects is realized as organizations do not have enough resources to work on all the active projects at one time. In the absence of prioritization, most of the projects are viewed as misaligned with core business initiatives, thus leading to unproductive efforts and the waste of time and money. There is a need identified to determine measures to prioritize projects and deliver the most value at each point in time, under given constraints.
Factors Involved in Prioritization of Projects
There are various factors involved in setting up a logical process toward the
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