From the school of keep it simple: Try a Decision Matrix(spreadsheet software would be handy). It IS simple, while the written directions sound like the lyrics to “the Hokey-Pokey”-just THINK MATRIX: Your upper management Champions will need to determine 6-8 criteria necessary for all projects,e.g., alignment with Balanced Scorecard, time to completion, savings criteria, resources, CUSTOMER impact, etc. Then give each criterion a rating of importance from 1 to 10(hopefully from the vantage point of the customer). [On the spreadsheet, these will be positioned vertically, left to right across the top, in individual cells with their respective numerical ratings positioned directly underneath.] Now list all of your potential projects on the left hand side from top to bottom(under the criteria). Think matrix. Now, for each cell created by the intersection of a single criterion and a project, place a number(from 1-10 signifying the group consensus on strength of relationship). (You will have as many numbers in the cells to the right of the project as you have criteria). Do this project by project. Then go back to each cell to the right of each project and multiply the number in the cell(strength of relationship) by the corresonding criterion’s rating of importance. Place the product to the cell furthest to the right for that project. You can know rank order the products for the projects to rank order the projects. “And that’s what it’s all about !”
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