There are multiple situations where decisions must be made across multiple projects and proposed solutions, leveraging information on project impact, ease of implementation, cost, and ROI.
In the case of marketing investment, Multiple projects must be prioritized by their impact, by the ease (and cost) of implementation, and some other criteria such as ROI or distribution across teams.
In the case of marketing or quality initiatives proposed actions have been identified and must be prioritized. Some of those actions may be short-term with immediate impact, some more long-term and possibly more difficult to implement with possibly lesser impact. A Pareto analysis has perhaps been completed, and some factors have been identified with higher importance and impact.
In all those cases, there is a need for visibility along the projects or actions to understand which should be prioritized and why. The Project Prioritization Matrix framework and tool presented in this section will help make those decisions (Decision Scorecards offers additional frameworks and tools).
A framework defines the methodology for prioritizing projects: the criteria to be used, the way they are compared, and the process for reaching decisions. On this page, we outline the framework that supports consistent and transparent choices. The Excel tool described later is the practical implementation of this framework, providing a visual way to apply it.
Among the criteria to compare projects, multiple can be used:
The project prioritization matrix permits the use of multiple criteria. Here an example:
Horizontal axis: the ease of implementation (or a mix with deployment cost)In short, these are four dimensions that can be used to highlight and discuss projects. Projects or decisions with high impact and ease of implementation are those easier to select or make. They are the ones named “low-hanging fruits”.
No decision can be made solely on these few parameters, but they help visually navigate solutions and answer the “why” questions:
Frameworks and scoring models support objective choices. Tools help answer the “what” questions, but the “why” remains most important. Reviews must include discussions on alignment with company priorities. Sponsors and facilitators should be engaged as necessary to support these discussions.
For instance, ensure to validate the scope of projects using Decision scope – Frame in out.
Teams must coordinate to estimate project metrics for a fair comparison of projects or solutions. Consolidation of projects can be centralized, allowing fruitful discussions across teams.
A few steps are required:
Multiple formats are possible. For projects with a few options, the team can identify the “low-hanging fruits” in the top-right quadrant (high impact, easy implementation).
For projects spanning multiple teams, higher management discussions are needed, similar to budget planning (see also: Decision Marketing Plan Creation).
This graph forces attention to each project and all projects. Benefits are:
In practice, this graph can introduce a session engaging project prioritization, and serve as a reference in reviews.
A Project Prioritization Matrix is a framework that compares projects by impact, ease of implementation, cost, and ROI. It provides a consistent method for prioritizing projects.
Typical criteria include ease of implementation, cost, risk, expected ROI, and customer impact. Teams may also add factors such as alignment with company strategy or resource availability.
A framework defines the methodology: the criteria, process, and decision rules. A tool, such as the Excel Project Prioritization Template, is the practical implementation that makes applying the framework easier and more visual.
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When using a project prioritization tool, it’s important to create an environment where teams feel comfortable engaging in open and constructive discussions. Begin by ensuring the project scope is clearly defined—avoid trying to address too many issues at once, which can dilute focus and effectiveness.
Anticipate the inevitable “why?” that arises during project prioritization presentations. Ground your evaluation of the two axes (such as impact and effort) with clear, well-supported assessments. You might use techniques like scorecards or voting, but always summarize the key factors that justify each evaluation. This not only strengthens the rationale for your choices but also provides a valuable reference point if priorities need to be revisited as circumstances change.
The prioritization process will often surface multiple projects, though only a select few will move forward—especially if some projects are variations of one another. Maintain a high-level, “helicopter view” to ensure that details do not obscure your understanding of the broader market landscape and the opportunities it presents.
The following section may include tools, some free, some with a fee to support this site development. If you consider a tool should be presented in this section and is missing, please let us know at: contact@marketingdecision.org
There are multiple situations where projects need to be prioritized according to various criteria such as impact, ease of implementation, short-term vs long-term considerations, Return on Investment (ROI), and possibly more. The Excel tool proposed here is an essential tool that simplifies the comparison between projects or actions, providing visual capabilities to assess, discuss, and prioritize them.
The number of solutions for comparison can be set from 2 up to 100. They can be organized by category (e.g., market segments, initiatives, business units). Excel filters can be utilized to display only selected ones. Color coding can be adjusted, as well as the size of “bubbles” used to represent each project.
The initial setup of the tool allows for the horizontal axis to represent the ease of implementation, and the vertical axis to represent the impact, making the top-right quadrant the most attractive. The bubble size represents the ROI. Color coding can be employed to represent each category, and Excel filters can be utilized to filter those.
Explore tools related to the topics covered in this section. For a wider selection, visit our webshop using the link below, or continue browsing our marketing mix pages for additional insights and solutions.
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