Project Prioritization Matrix Checklist Template

• Company Name

• Registered Address
  Address

• Project Manager

• Date Created

  Date

Determine your criteria and rating scale

• Determine the factors you will use to assess the importance of each project.

  Done

  In progress

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• Choose factors that will clearly differentiate important from unimportant projects.

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• Establish a rating scale to use in assessing how well a particular project satisfies each of your criteria.

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• Provide some details to define how the criteria should be applied to ensure consistent use of the rating scale.

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Establish criteria weight

• Place your criteria in descending order of importance and assign a weight.

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• Note that when a project is scored, the numeric rating the project is given for particular criteria is multiplied by the criteria’s weight to create a priority score.

Create the matrix

• List your criteria, their weight, scoring values, and names of potential projects.

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Project Prioritization Matrix Element

• Criteria

• Weight

• Scoring Values

• Potential Projects

Work in teams to score projects

• Review each project and rate the project on each of the criteria.

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• Multiply the rating for each criteria by its weight and record the weighted value.

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• Add up the weighted values to determine the project’s total score.

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• Arrange for each project to be evaluated by two different teams.

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• Benefits of this approach include:
  
  - Working in teams can produce more objective results, since differing perspectives can be considered during the rating process.
  
  - When there are many projects to evaluate, dividing them among multiple teams can speed up the task.
  
  - Insights into how clearly your criteria are defined and how objectively the rating scale is applied can be gained if each project is scored by two teams.

• Ensure to provide resources and links (to your strategic plan, project goals, etc.) to enable team members to make an informed evaluation.

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Discuss results and prioritize your list.

• Have a general discussion to compare notes on results.

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• Develop a master list of prioritized projects that everyone agrees upon.

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• Decide that a project needs to move up or down in priority, despite the score it received.

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• Establish groupings of projects based on natural breaks in scoring, for example high, medium, and low priority.

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• Vet the results with others in the organization, as well as customers and stakeholders.

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Completion

• Remember that the prioritization matrix itself is just a tool, and the people scoring projects are using their best judgment.

• Additional Comments

• Project Manager Name and Signature

  Sign
Project Team Member

• Role

• Name and Signature

  Sign