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    Prioritization Matrix: Efforts by Neetek Kumar Prashant Tyagi Preyanshu Solanki

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    Neetek Sahay
    This document discusses the prioritization matrix tool, which is used to systematically prioritize and evaluate criteria and options. It involves identifying criteria and weighting their importance, then scoring options against the criteria. The key steps are: 1. List criteria and weight them based on their relative importance. This is done using a criteria matrix. 2. Score the potential options being considered against each criterion. This is done using option matrices for each criterion. 3. Combine the criteria weights and option scores into a summary matrix to compare total scores for each option. The option with the highest total score is typically the highest priority.

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    Prioritization Matrix: Efforts by Neetek Kumar Prashant Tyagi Preyanshu Solanki

    Uploaded by

    Neetek Sahay
    187 views17 pages
    This document discusses the prioritization matrix tool, which is used to systematically prioritize and evaluate criteria and options. It involves identifying criteria and weighting their importance, then scoring options against the criteria. The key steps are: 1. List criteria and weight them based on their relative importance. This is done using a criteria matrix. 2. Score the potential options being considered against each criterion. This is done using option matrices for each criterion. 3. Combine the criteria weights and option scores into a summary matrix to compare total scores for each option. The option with the highest total score is typically the highest priority.

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    Prioritization Matrix

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    This document discusses the prioritization matrix tool, which is used to systematically prioritize and evaluate criteria and options. It involves identifying criteria and weighting their importance, then scoring options against the criteria. The key steps are: 1. List criteria and weight them based on their relative importance. This is done using a criteria matrix. 2. Score the potential options being considered against each criterion. This is done using option matrices for each criterion. 3. Combine the criteria weights and option scores into a summary matrix to compare total scores for each option. The option with the highest total score is typically the highest priority.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    187 views17 pages

    Prioritization Matrix: Efforts by Neetek Kumar Prashant Tyagi Preyanshu Solanki

    Uploaded by

    Neetek Sahay
    This document discusses the prioritization matrix tool, which is used to systematically prioritize and evaluate criteria and options. It involves identifying criteria and weighting their importance, then scoring options against the criteria. The key steps are: 1. List criteria and weight them based on their relative importance. This is done using a criteria matrix. 2. Score the potential options being considered against each criterion. This is done using option matrices for each criterion. 3. Combine the criteria weights and option scores into a summary matrix to compare total scores for each option. The option with the highest total score is typically the highest priority.

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    PRIORITIZATION MATRIX

    Efforts by Neetek kumar Prashant Tyagi Preyanshu Solanki

    SEVEN MANAGEMENT AND PLANNING TOOLS

    1. Affinity diagram (KJ Method) 2. Inter relationship digraph 3. Tree diagraph 4. Prioritization matrix 5. Matrix diagram 6. Process decision program chart (PDPD) 7. Activity network diagram

    PRIORITIZATION MATRIX INTRODUCTION

    Prioritization matrices are useful for applying a systematic approach to weighting/prioritizing criteria towards evaluating solutions against the criteria.

    This tool is used to prioritize items and describe them in terms of weighted criteria. It uses a combination of tree and matrix diagramming techniques. It is used to do a pairwise evaluation of items and to narrow down options to the most desired and most effective

    ADVANTAGES
    Team must focus on the best choice, not all choices, dramatically increasing chances of success. Promotes consensus at each step in the process. Reduces chances of selecting pet projects.

    HOW TO CREATE A PRIORITIZATION MATRIX

    Attendence Meals Fees submission Socialisation Collecting admit card Extra cirricular activities in college.

    Assignment Exam preparation Taking leave from the college Organising the spectrum Preparation for converge

    Attending college parties.

    Party organisation Drving till the GC labs Bunking the class after attendence

    FORMULATION
    :
    List items to prioritise Identify Prioritisation criteria Identify weights for criteria
    List the items which are to be prioritised. Put them in a column in a table (a spreadsheet is useful for this). Keep the list reasonably short unless you have a specific reason for doing otherwise. A typical list less than ten items and often less than seven. For example use low cost of implementation rather than cost of implementation. Keep the criteria list short A typical scale is 1 to 5, with 5 meaning high priority. You can also exaggerate the effect by using the three-part scale 1, 3 and 9. A typical scale is 1 to 5 or 1 to 10, with higher numbers indicating items that meet the criteria. Again, you can use the threepart scale 1, 3 and 9. You can show non-weighted scores, weighted scores and/or both.

    Identify the decision criteria which will be used for prioritisation Phrase these in a way such that the meaning is clear and a high score against them means a high priority. Put the criteria in a row at the top of the table. Choose a scale of values for weighting the criteria. Identify score values for each criterion that will be used to weight the scores. Show these in the prioritisation matrix table. Choose a scoring system for scoring the items in the list against the criteria. Apply the system to score all list items against all criteria. Show these in the prioritisation matrix table. Total the scores for each item. Show these in the column at the right of the matrix table.

    Score items

    Total scores

    Interpret the results

    Examine the total scores, understand what contributed to each total.

    You can do what if experiments by going back and changing scores and weights to see what difference this makes. For example the top one item in a solution list is next taken to the detailed design phase.

    Decide which items should be taken forward for further action.

    Take action

    FORMULATION

    CRITERIA MATRIX

    DEVELOPING CRITERIAS

    OPTION MATRIX

    DEVELOPING OPTIONS

    SUMMARY MATRIX

    COMPARE BOTH OPTIONS AND CRITERIAS

    CRITERIA MATRIX

    1.Weigh each criteria against each other using an L-shaped matrix


    Reading across the matrix from the vertical axis, compare each criterion to those on the horizontal axis Record a weight in each row cell, and its reciprocal value in the corresponding column cell. Total each row and convert to a relative decimal value or criteria weight In this example, cost is more important than schedule.

    OPTION MATRIX

    2. Compare every option to each weighted criterion You will have as many option matrices as you have criteria Use the same rating scale you used in the previous step, however the numbers relate to equal cost (1), less costly (5), much less costly (10), more costly (1/5), and much more costly (1/10). Determine an option rating using the same method as step 3 Note: Similar charts must be developed for Schedule, Performance and Supportability

    SUMMARY MATRIX

    5. Compare options based on all criteria. List criteria on horizontal axis and all options on vertical axis. In each cell multiply the criteria weight of each criteria by the option rating. Add scores for each option to compute a row total. Compare these values to aid in choosing an option. Keep in mind that this is not a science. Use your judgment when comparing options

    THANK YOU

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