Prioritization & Goal Setting
Impact/Effort Matrix
Rate ideas by impact and effort, see them on a chart and find quick wins and time wasters.
- Time: 20 to 40 min
- With: Team deciding what to do next
- You get: A chart and a shortlist of quick wins
How to use this worksheet
- List the initiatives you are considering, one per row.
- Rate impact (value if it works) and effort (cost, time, risk) from 1 to 10. Use the same yardstick for all items and rate them together.
- Check the chart: you can drag items to adjust. Start with quick wins, plan major projects, use fill-ins when there is spare capacity, and drop time wasters.
Initiatives
One row per initiative. Impact: 1 low to 10 high. Effort: 1 low to 10 high.
Prompts
Ask yourself
- What would success look like in numbers?
- Are you comparing the effort of the whole thing or only the first step?
Impact/effort chart
Before you finish
- Impact and effort were rated by the same people with the same yardstick.
- Quick wins are scheduled, not just identified.
- Time wasters were actually dropped.
About the matrix
The impact/effort matrix (also called action priority matrix) is a simple tool for sorting many ideas quickly. It is common in agile planning, lean and design thinking.
It is a first filter: it ignores risk, dependencies and strategy. Use it to shorten a long list, then look closely at the survivors.
Recommended reading
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- Good Strategy Bad StrategyRichard Rumelt
Excellent framework for strategic thinking and prioritization. Discusses how to focus on high-impact initiatives.
- Playing to Win: How Strategy Really WorksA.G. Lafley & Roger Martin
P&G's CEO explains strategic choice and prioritization, including the concept of where to play and how to win.