Prioritizing projects is always somewhat subjective, but a tool that can help is PRIORITY MATRIX’s IT Project Risk Analysis Template. This template gives you an overall perspective of all your projects based upon RISK and IMPACT.
Put each project into one of four quadrants you think they best fit:
- Quadrant-1: High Impact, Low Risk
- Quadrant-2: High Impact, High Risk
- Quadrant-3: Low Impact, Low Risk
- Quadrant-4: Low Impact, High Risk
There are still many variables in play when deciding upon the priority of each project. However, in a perfect world you would choose projects in Quadrant-1 to be highest priority followed by projects in Quadrant-2, then Quadrant-3 and finally Quadrant-4 projects.
You will still need to make the final determination, but these steps will help insure you focus on the High Impact projects first.
Want to use this template in your Priority Matrix account? (Account required).
Mike Sisco is the founder of the IT Manager Institute with a mission of, “helping IT managers of the world
achieve more success”