You have hundreds of projects that need to be managed, delegated, and followed up on that vary widely in scope and skill required. If that wasn’t daunting enough, new projects are coming across your desk in waves. Is this you?
1. How do you prioritize your projects?
2. How do you make sure you are working on the right priorities?
3. How can you quickly assess a new project and get it properly ranked against others?
I have spent plenty of time on the Internet looking for an answer and didn’t find much help. Here is what I have so far.
In the simplest form, a spreadsheet can be used to multiply the score of different categories together to provide an ultimate Project Priority score. Here are some example categories:
Requested by Customer (1-5 ranking with CEO at a 1, General Managers at 2, etc)
Importance to Customer (1-n ranking so each individual / groups ranking reflects their priority)
Urgency (1-5 ranking based with 1 being a hard due date)
Return on Investment (1-5 ranking based on revenue or cost savings)
Example Project: The Widget Project was requested by the CEO (1), this is her third most important project she wants you to do (3), it has an immovable due date AUG 29 (1), and it is going to generate $xxx,xxx (3 for example). Multiplying 1 x 3 x 1 x 3 gives is a Project Priority of 9.
I have seen others include Project Scale but the smaller the project the better score it gets which will continue to bump larger projects – usually the ones that really matter.
I am sure many of you have some ideas and feedback on this matter that you could contribute. Knowing how to easily gauge ROI and if there are other key categories for measurement would be extremely insightful.
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