When projects vary in importance, impact and urgency it can be challenging to prioritize. However, having a structured approach can help you make strategic decisions that will increase productivity and ensure resources are being used in the most efficient manner possible.
Okay, so let’s get started. Here are the Best Ways to Prioritize Projects at Work
(This article is geared towards professional work related projects- but these same principles apply for personal related projects a well).
Start with Clear Objectives
Begin by clarifying the goals or outcomes your projects aim to achieve. Having a true understanding of the purpose of each project helps you align them with your strategic objectives. For example, if you have a goal that involves increasing revenue, projects directly impacting sales might take precedence over those focusing on building your brand long-term. By focusing on clear goals, you can more easily assess each project’s relevance to your overall strategy.
Prioritization Frameworks
Frameworks such as the Eisenhower Matrix, the RICE Scoring Model, or the MoSCoW Method can definitely help in decision-making:
- Eisenhower Matrix: In this matrix, you can categorize the projects into four quadrants—urgent and important, important but not urgent, urgent but not important, and neither urgent nor important. Focus first on projects that are both urgent and important, followed by those that are important but not urgent.
- RICE Scoring Model: In this model, you will rate projects based on four criteria—Reach, Impact, Confidence, and Effort. By quantifying each factor, you can objectively score projects and prioritize those that yield high impact with reasonable effort.
- MoSCoW Method: Classifies tasks within the project as Must-haves, Should-haves, Could-haves, and Won’t-haves (at least for now). This method is ideal for refining projects based on necessity, allowing you to prioritize core tasks and avoid getting sidetracked by lower-priority tasks.
- SODA’s Method- This is one of my favorite frameworks for helping to prioritize and make decisions. You will make 5 categories and then label S-Situation, O-Options, D-Disadvantages, A-Advantages, S-Solutions. This places the data side by side and can make it very clear on what steps should be taken.
Here’s a real life example I’m going through right now. I used this to help me if I want to proceed with one of my business ideas (which can be classified as a project). This helps inadvertently with prioritizing. You may have personal or professional projects that you need to do this with first. Prioritizing and decision making really do go hand in hand.
Situation: Cannot decide to move forward with my Print on Demand Shopify Store. (I’ve been paying for 4 months and it’s just sitting there).
Options: 1.Drop it altogether 2. Wait and do nothing 3. Decide to keep and take next steps.
Disadvantages
(To letting it go) : Lose time and money I’ve invested so far.
(To keeping it): Will take even more of my time & Money. Will need to learn design skills.
Advantages
(To letting it go): Will no longer consume my thoughts – fester and bother me.
(To keeping it): Passive way to make income- can be very successful. I get to learn new skills.
Solution: I decided to move forward with the store-will pay for a full year in advance. If I am not successful after one year, I am going to let it go.
Each of these frameworks can give you insight and more information about each project. Once you ‘ve gone through the steps on a few of these or all of them, you’ll have a lot of information to help you prioritize.
Consider Resource Availability and Constraints
Evaluate your available resources, including time, budget, and personnel, as these will influence what projects are realistically feasible. Assess whether you have the necessary tools, technology, or expertise to complete each project. Projects requiring extensive resources might be scheduled for a later date if more achievable tasks are present. Likewise, if a project requires skills not currently available, you might consider outsourcing, training, or delaying its execution. (Like my Shopify Store- I could consider hiring people to help me design and market).
Project Impact and ROI
Follow the money as they say.. Evaluate the potential impact and return on investment (ROI) each project could bring. Projects that promise greater ROI often takes precedence over those with limited or unclear benefits. For example, a high-impact project might increase revenue or improve efficiency significantly, while a low-impact project might only generate minor improvements. By focusing on ROI, you can ensure that resources contribute to meaningful outcomes.
Continue to Re-evaluate Priorities
Prioritization should be on going. Business environments, customer needs and market conditions are always changing, which can influence which projects should be prioritized. Review projects frequently to make sure that your priorities still align with current goals, and adjust as needed.
I need to mention- there may be times when it’s more difficult for you to prioritize a project in the first place. When I worked in the publicly funded organization, there were pet projects that managers had. These had zero significance, but were important to them. When they were assigned to me- I had to work on them. The thing to do in this situation is to let your boss know the other projects that are on your plate- and ask them which one they think you should be working on first.
Project Management Tools
Last, but not least…the Project Management Tools. I have a love/hate relationship with technology that is linked with Project and Time Management. If used correctly..they can be a huge time saver! If not used like they are intended, you could be spending a lot of extra hours just messing with them.
Some of the more well known ones include: Trello, Asana, or Monday.com. These can help in tracking progress, timelines, and dependencies across projects. These tools often offer features like visual task boards, progress indicators, and deadline alerts, making it easier to monitor and adjust priorities as circumstances change. These do provide a great visual for being able to prioritize specific tasks within a project.
Summary- How to Prioritize Projects at Work
Prioritizing projects that all seem to have competing importance and timelines can be challenging. Taking a structured approach and applying specific frameworks can help tremendously. Learning how to effectively prioritize is a learned skill. Apply what you’ve learned today- and over time you will get better and better at it!