Project Portfolio Prioritization Matrix
How do you know when to start working on a new project?
If you are like most people, it is hard to decide what projects should be given priority.
That is where the Project Portfolio Prioritization Matrix comes into play! This tool will help you sort your projects by importance and urgency so that you can get started on the ones that matter the most.
The Project Portfolio Prioritization Matrix is a tool that will help you identify your most important projects. This is accomplished by comparing how well each project satisfies the requirements in two areas: strategic importance and urgency. The matrix also helps determine which projects should be eliminated from the portfolio because they are not worth pursuing further.
The template helps you in the following ways:
- The matrix helps to determine which projects should be eliminated from the portfolio because they are not worth pursuing any further.
- A matrix like this helps you visualize and understand which projects are most important, and which ones can wait.
Features of the Project Prioritization Matrix -
- Identify your criteria
- Establish the weight of each criterion
- Define the rating scale of each criterion
- Score your projects against each criterion
- Calculate the total project score