Project Ranking


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Project Prioritization Process:

Project Prioritization Process Prioritization Questions Which projects are the highest priority? Which projects help us meet our strategic initiatives? How many projects fit within our financial and resource capacity? Company Strategies Business Objectives Projects Strategies, Objectives, Business Value, ROI, Budget, Resources, Duration, Complexity, Risks, Strategic alignment, Outcomes Prioritization

Project Prioritization Process:

Project Prioritization Process Rank and Prioritize Analyze the Portfolio Approve Portfolio Inputs: Score Projects based on weighted prioritization criteria Outputs: Rank list of projects Inputs: Assess capacity ($, resources ) against ranked list of projects Review initial rankings and debate them Determine the validity of data Map projects to strategic initiatives Outputs: Project portfolio recommendation Overall timeline/ interdependencies Investment type percentages Projects mapped to strategic initiatives Inputs: Executives need to formally approve Project Portfolio Revise as necessary Publish and communicate Outputs: Approved project portfolio

Step 1 - Ranking Criteria:

Step 1 - Ranking Criteria Business Value (1-10): Alignment to strategic initiatives Tangible Benefits -Increase revenue - ROI - Increase market share - First to market Customer satisfaction Regulatory Innovation Probability of Success (1-10): Complexity Effort Resource availability Interdependencies Business risk External influences Experience level Post product support

Scoring Framework:

Scoring Framework Must do projects How to increase probability of success? How to increase business value Why are these so low?

Step 2 - Scoring Framework:

Step 2 - Scoring Framework

Scoring :

Scoring Other rankings? First to market? Keep the lights on project? Increased productivity? Is the project related another project?

Scoring Framework:

Scoring Framework

Step 3 - Project Portfolio:

Step 3 - Project Portfolio Right mix of projects? Right projects based on a review of business value and probability of success? Right mix of projects based on investment types? Right mix of project based on the market place? Right mix of projects based on alignment to business objectives? Adequate resources to support the project portfolio?

We picked them now what?:

We picked them now what? Projects Need a Project Management Process that is repeatable that uses the same methodology every time and every time we improve the process (plug-n-play product development) Need metrics to make sure we are tracking the projects Rebalance the portfolio at defined intervals: Mid course corrections? - All projects need Go/No Go milestones Are our targets still correct? - If not why? Do the budgets still fall within the financial and resource capacity ? How can we help ensure success? - Communication (if it needs to happen document it), clear priorities, leadership

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