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Purpose
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The purpose of this priorization matrix is to take customer feedback, project ideas, initiatives, feature requests, etc. and determine which ones make the most sense to move forward by looking at a variety of factors. This eliminates bias in choosing what to put resources into. I am a fan of using industry knowledge and intuition as well, but going through this exercise assists in looking at everything on the plate to be sure it's a good decision.
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Instructions
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Review the headings across the top and make edits as needed. I have extended the traditional RICE framework.
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By default, each is weighted equally, you may manually override those percentages if some factors matter more than others.
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The ranking is 0 to 3, 3 being the highest. You could manually adjust this if you wanted 1 to 5.
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You will need to adjust these depending on things like what you're tracking and size of business.
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Make sure the total of the weighted percentages is 1 or 100%. Now when you see your final score, it will be in range of 0 to 3 for each item because it's 1.9 for example out of 3, not out of 21 like it would be if you just added the scores together.
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To change the automatic colors, go to conditional formatting, then manage rules. You can delete the rules or click on them to change the values and colors.
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Type in your items you're prioritizing along the left column and score accordingly 0 to 3, 3 being highest.
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Sample
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