Mark Price Perry
Business Driven PMO Evangelist| BOT International
Orlando, Fl, United States
Dear Anonymous, many organizations seek to establish a project prioritization scorecard to do just what is mentioned in this post and string of replies. Typically, it is recommended to use about 4 to 7 criteria to establish the prioritization. If less than 4, any one criteria may have too much impact over the prioritization. And if much more than 7, say 15, any one criteria may not really affect the overall prioritization. The actual criteria can be whatever is most helpful to the organization such as 1) financial risk v. return, 2) strategic fit, 3) product of the project considerations, 4) market/customer attractiveness, 5) technology adoption life cycle (TALC) rating, 6) synergies, 7) technical feasibility, etc. And, of course, the prioritization scorecard (criteria and weightings) can and should be reviewed periodically to ensure that it is up to date with the direction and priorities of the company. Attached is a very simple scorecard in Excel format. Such scorecards can be very helpful at both time of the original project selection and during portfolio management and review. Whether the actually scale is a integer, percent, or range (000 to 999), scorecarding can be very effective. Also imporant to note, with time every organization tends to arrive at their own, unique, values that tend to serve as "threshholds" and this is good! Even when certain guidelines and ranges are established in advance, the actual prioritized inputs and data points provide their own (and much better) metrics for classification, analysis, and decision making. Cheers. -- Mark Perry, VP of Customer Care, BOT International
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