![]() Even Office 365 has project management features. You can create your matrix with the tools you already use. Weighted matrix (some factors are more important than others).įor example, if your project was getting to the North Pole, your priority would be organizing transport.Simple matrix (each factor is equally important).There are two types of prioritization matrices: These items should be the most important ones ones without whose resolution it’s impossible to get a return on investment. The end goal is to have a list of important items to address. It’s usually used during the planning and brainstorming phase in which project teams (and in some cases other stakeholders as well) identify project priorities.Īgain, this can pertain to tasks within a project or multiple projects in a portfolio. The best way to prioritize projects is with a little help from the project management prioritization matrix.Ī prioritization matrix is one of the easiest ways to identify the most important tasks and projects. How to Prioritize Projects (in a Portfolio) You’ll be dedicating time to projects and tasks that matter, instead of finding your hands full of unimportant projects and tasks.Īnd when top management, clients, and your project teams all see that you’re strategically approaching projects, it will be much easier to get sponsorships from the stakeholders that can make or break the project. Having understood which projects in your portfolio need the most attention, and which tasks should be prioritized, you can make sure you have a higher project success rate.įinally, when you’ve prioritized projects, you can improve your return on investment (ROI). More productive, efficient, engaged, and happier.Project teams that successfully establish project priorities are: You’ll be productive and efficient.Īfter all, the numbers don’t lie: organizations that invest in strategic prioritization deliver 40% more value. Your performance won’t suffer even if you feel like you’re stretched thin. This way, you’ll be securing stakeholder approval and making sure that the projects are completed successfully.Īdditionally, when you set project priorities, you’ll be making the work easier on your project team(s).Įveryone will know exactly what they need to work on at any given time. When it comes to prioritizing projects in a portfolio, you have to make sure that you’re strategizing both task and project management. ![]() To put it simply: you have to prioritize projects because you don’t have an infinite amount of resources.
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