What is a prioritization matrix A prioritization matrix is a business process analysis tool, often used alongside other bpm software or Six Sigma techniques for comparing choices using specific criteria, and figuring out what to prioritize. It’s used to make it easy to compare and rank different tasks or initiatives based on chosen criteria. You can click here to get the prioritization matrix template. How to use the prioritization matrix template Step 1. ![]() It helps your team figure out what needs to be done first and ensures that everyone is aligned with the workflow of the project. Ideally, a 2x2 prioritization matrix helps your team create boundaries around what is realistic to tackle, and develop clarity and consensus around what’s most important for success, versus nice-to-have or unnecessary. A 2×2 prioritization matrix refers to a simple yet effective way to prioritize tasks in a 4-quadrant visualization. A prioritization matrix is a specific prioritization framework that provides visual insight into which tasks should be completed first. This prioritization matrix template can help you organize tasks into a clear visualization. New markets worth pursuing and prioritizingĭepartments, functions, or capabilities worth building or expanding on next RICE is an acronym for the four factors we use to evaluate each project idea: reach, impact, confidence and effort. Teams can also use the matrix to make business decisions such as: RICE: Four factors for assessing priority. Deciding between large projects: When picking between large projects, the Eisenhower Matrix lets the team easily clear pet projects off the radar by exposing that they’re not important or urgent. Virality (influence or “stickiness” of the product or service) Cost of Delay is a product backlog prioritization technique where teams evaluate the cost of doing something later. Since the template is duplicatable, you dont. Revenue (the profitability of a product or feature) A prioritization matrix template is a reusable resource that enables you to quickly prioritize your to-do list. ![]() Whether you’re a product manager or leading a new business initiative, it’s worth considering how each idea informs each of these elements:Īctivation (when customers understand the value of the product or feature) This framework can help you decide the least amount of features you need to launch an MVP or prioritize tasks for an upcoming sprint Also known as a priority matrix, a prioritization matrix is a business method that helps you analyze which tasks are a priority. Agile development teams can use the 2x2 prioritization matrix to decide which features, fixes, and upgrades to work on next.
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