When several initiatives all look worth funding, it’s tempting to go with gut instinct. In this article, I share the structured method I use every time I need to set priorities.
You define categories that reflect your organisation’s strategy and values, weight them by importance, and score each initiative against them. Then you weigh that value against the estimated cost and plot each initiative on a simple value-versus-cost matrix. The method works for executives choosing between business initiatives, and for project managers ranking work within a project.
SP Singh, Principal Consultant, Bhani Consulting
https://www.brighthubpm.com/project-planning/128692-how-to-prioritize