Listing out your projects is only a first step. The real work gets done when you have a clear understanding of priorities, and which projects to move forward with first. Ā That's where a project prioritization tool comes in.
Notion's Project Prioritization Template includes properties that let you sort and rank your projects based on a few key factors, like Cost, Impact, and Urgency. This produces a Score and Priority Rating.
Here's how it works:
- Enter the name of your project in the "Project" field.
- In the "Cost" field, enter an estimate of how much it will cost to complete the project.
- In the "Impact" field, enter a number rating the potential impact of the project.
- In the "Urgency" field, enter a number rating how urgently the project needs to be completed.
- The "Score" field will automatically calculate a score based on the Cost, Impact, and Urgency ratings.
The template is easy to use and customize. You can add or remove columns as needed.
Cost: 1-10 rating of how expensive, in time and energy, this project is likely to be. A negative valueāi.e., the higher the score on this, the lower your total project score;
Impact: 1-10 rating of how important (or āimpactfulā) this project is likely to be on your largest business goals;
Urgency: 1-10 rating of how pressing this project isāprojects with deadlines coming up tend to have high urgency, even if the total impact is low.
Score: The score is a summary of these three inputs. The higher the score, the higher priority you should place on a given project.
Priority Rating: The priority rating formula only has two distinctionsāāHP = High Priorityā and āLP = Low Priorityāā¦ of course, you can look to the specific scores to fine-tune these rankings.
Sort: The table is automatically sorted to show the highest priority projects at the top of your table.
You can copy this Notion-made Project Prioritization database and use it as your ābaseā layer for project management. Link actions, assign people and attach dates to customize your own project management setup from there.
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