Prioritization Matrix
Originally published: 01/06/2020 09:02
Publication number: ELQ-15452-1
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Prioritization Matrix

Prioritize your business initiatives or focus area through this simple template, by assigning weights and priorities.

Description
This tool will help you prioritize your business areas or initiatives, where you can provide a weight for each criterion and visualize the outcome in a simple 4 by 4 matrix. You will be able to set five criteria on the x-axis (Soft Criteria), which cannot be measured numerically, and five criteria on the y-axis (Hard Criteria), which are measures numerically. This will allow you to have a comprehensive and fair measurement and evaluation method to prioritize different areas or initiatives within your business.

This tool is suitable for startup companies, consultants, and academic professionals who wish to prioritize their subjects.

You can add other columns to provide a bigger list for your analysis by simply adding a row to the prioritization sheet.

The tool will calculate the outcomes of your analysis based on a weighted average method, where you can change the weight of each one of the criteria on both the y and x axis simultaneously. This will enable you to have a more subjective assessment on whether a certain criterion is more important to you than another one.

Please note that this tool only serves as a selection tool and it doesn't support in the implementation of the actual initiative or topic.

This Best Practice includes
1 Excel Sheet

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To Simplify the selection and prioritization process


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