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Content Table of Contents Confidence Levels Notes Bookmarks Highlights

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Six Ways to Prioritize Projects

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Six Ways to Prioritize Projects
Prioritizing projects and ensuring alignment to the company’s goals High

and objectives is a continuous effort for organizations. In order to Medium

deliver maximum value, project leaders can help prioritize projects.
Here are six potential approaches to prioritizing projects. Low

1. Scoring: Scoring is one of the significant methods used to

Continue 
prioritize projects. To score any project, a scoring profile is
developed consisting of weighted categories and criteria.
Categories are assigned a weight and values are assigned to Category
the criteria. The project is scored by assessing each criterion Six Ways to Prioritize Projects
and multiplying it by its weight. The total score for the project is
based on the sum or average of all the weighted criteria scores.
2. MoSCoW Technique: This prioritization technique derives its
name after the first letters of the following labels: Must have,
Should have, Could have, and Wish to have. “Must have”
requirements are mandatory and lay the foundation for any
system. In the absence of these features, the system will not
work or will have no value. “Should have” features are relatively
important and should be present for the system to work
correctly. “Could have” features are useful additions to the
system that will add tangible value. “Wish to have/Won't have”
requirements are nice-to-have features that are noted in the
backlog and will be added to the scope after the must-have,
should-have, and could-have requirements are addressed.
3. Dot Voting or Multivoting: In this technique, each stakeholder
is given a predetermined number of dots to distribute among the
options provided. Each stakeholder distributes the dots as
desired based on the priority they envision. Stakeholders may
distribute all the dots to one option or give no dots to one of the
options displayed. The facilitator then sums up the votes for
each option. The option that receives the most votes is
considered the top priority, and the one with the least votes has

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the lowest priority. A good rule of thumb to determine the 4
number of votes each stakeholder gets is to give them votes for     
20% of the total number of features or requirements that are to
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be prioritized.
Home 4. Requirements Prioritization Model: This is a mathematically
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driven model to calculate the priority of features. In this model,
Learning Plan benefits, cost, penalties, and risk are rated on a scale of 1
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(lowest) to 9 (highest) against all the proposed features. Then
j Game Center the features are rated on the benefit of having versus not having
the feature. Additionally, the team rates the cost and risk of
Content producing the feature versus not producing it. The score for
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each attribute is then summarized in the weighted formula to
g Flashcards calculate the relative priority of features or projects.
5. Return on Investment (ROI): ROI measures the profitability of
Practice an investment that can deliver fast and maximize the returns by
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quickly producing valuable deliverables in a given timeframe. A
project that yields the highest ROI is very likely to be prioritized
Practice
v Exams by the organization to maximize benefits over the costs incurred
by the organization.
 Search 6. Minimal Viable Product (MVP) or Minimum Marketable
Feature (MMF): This approach is mainly applicable to agile
methodology, where features are decomposed in the smallest
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of the Day
marketable packages that deliver significant business value
within the chosen timeboxed period. Those features that deliver
the highest customer value are considered critical and are given
the highest priority to be implemented before less significant
features.

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