Business Process Improvement (BPI) is a philosophy of continuous improvement of processes in relationship to what clients need and value. It is a set of methods and tools to increase speed, improve quality, simplify and create robust processes. The tools used are called Smart Tools and they are designed to help you work smarter, not harder. The business need you have determines the appropriate Smart Tool for the situation.
This lesson covers the Prioritization Matrix.
What Is It and Why Use It?
What is it?
The Prioritization Matrix helps teams make decisions on which projects can move forward or which option is the best out of many. It is especially useful when resources, such as people, time or money, are limited.
It narrows down the number of projects/options by rating them against weighted criteria.
It gives the total score of each project/option as a result of objective evaluation.
Why use it?
It affords a team the opportunity to express all opinions.
Disagreements are quickly surfaced so that they may be resolved up front.
It enables the team to build consensus and make more informed and objective decisions.
It forces a team to focus on the best things to do, not everything they could do. This dramatically increases the chances of implementation success.
How Does it Work?
What are the Steps in the Process?
There are six steps to the Prioritization Matrix process.