Prioritization Matrix is a graphical tool that provides a way to sort a diverse set of items into an order of importance.
The matrix sorts and ranks various items or options into an order of importance using weighted criteria. By using this technique, you are able to identify which items or options are the most important and which are the least important. Thus, you can get the most important (or priority) items done first. This tool is especially useful in project planning.
A Prioritization Matrix graphically displays options and criteria in row and column format. The matrix ranks options based on criteria that you determine to be important. These criteria are weighted based on their assessed importance. By selecting and weighing criteria you are able to quickly highlight the best options.
Weights are assigned to each criteria. Each criteria will be given a numerical value. By deriving a numerical value for its priority, you are able to identify a criteria or item’s relative importance. Thus, allowing you to select and prioritize certain items or options over others. The process helps you narrow your options and compare choices in a systematic approach.
Create the list of items to be prioritized
Determine the criteria which may be used to judge how well each item on the list serves to meet the objective.
Weight the Criteria
|5 =||The criterion is significantly more important|
|4 =||The criterion is more important|
|3 =||The criterion being considered is equally important when assessed against the other criterion you are comparing it to|
|2 =||The criterion is less important|
|1 =||The criterion is significantly less important|
Construct a matrix
Score the options
Prioritize the list