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Not worth the effort – Higher effort, lower value You should scrutinize and evaluate “maybes” to see if there are ways to increase the value of maybes to push them into the low-hanging fruit quadrant. They are those potential projects that always get pushed off for some higher priority. You want to balance your portfolio of initiatives with primarily low-hanging fruit and some big bets. Large systems integrations, new product lines, and new channel development are the types of projects that are big bets. In most situations, if you look enough, you will find a lot of low-hanging fruit that will allow you to create significant value in a short amount of time.īig bets are those looming initiatives that you know the organization has to tackle, but the effort will be substantial. They provide a lot of value and don’t take much effort to execute. Prioritize the low-hanging fruit projects and initiatives first. Low hanging fruit – higher value, lower effort

Here are some key thoughts on the four quadrants of the prioritization matrix. You should determine relative costs through brainstorming and debate. If you have actual data and analysis, then use the data to plot the options.

Once again, you can assign levels of effort on an absolute or relative basis. The effort axis can represent cost, capital, ease of implementation, people, timing, or other effort levers. Relative values should be assigned utilizing brainstorming, debate, or the Delphi method. Absolute values can come from a cost-benefit analysis, reports, experiments, estimation, etc. You can determine absolute or relative values. In my experience, utilizing prioritization matrices makes it quicker and easier to align people. While a cost-benefit analysis can be done, putting a set of options on a prioritization matrix allows a group of people to quickly debate the relative positioning of the benefits and costs of different options. In decision-making, it is useful to compare the relative benefits and costs of different potential initiatives. Why is the prioritization matrix important?

The horizontal axis typically represents the cost or effort to make the project or an initiative a reality. On a prioritization matrix, the vertical axis typically represents the benefit or value of a project or initiative, which can encompass the market potential of new products, cost savings of systems, sales lifts of different marketing initiatives, etc. And, while sometimes you’ll want to quantify benefit or value and cost or effort, more often than not a prioritization matrix doesn’t have quantified numbers, but instead the relative benefits or value and costs or efforts of a portfolio of options or initiatives. If everyone in an organization focused their efforts on projects and initiatives that were high value or benefit and low cost or effort (i.e., low hanging fruit), the organization would create enormous amounts of value in a short amount of time.Įvery strategic leader should use a prioritization matrix to evaluate the best use of the scarce resources of their organization. The prioritization matrix is my go-to tool! I use it on just about everything, including my to-do list, major initiatives, projects, and potential investments. “The key is not to prioritize what’s on your schedule, but to schedule your priorities.”