About the Prioritization Model
There are many prioritization models out there, so I’m not claiming to reinvent the wheel here. Over the years I have tried many methods from the simple daily list to a complex matrix with intricate data-driven dimensions. There is a time and place for each of these approaches, but for the purpose of understanding what to work on next, a simple impact/effort matrix will suffice.
The main dimensions are:
What is the approximate Impact (or cost) to the company if this does not get done? This can be simplified to internal-only impact, impact to customers (who likely pay for your product/service) or both. How much approximate effort will this require to complete? This can be generalized to 1-person, multi-person (possibly cross functional), or multi-team multi-functional.
Here’s what that looks like when we map impact and effort to priority:
Multi-person, Multi-Functional
Because estimation is hard and requires practice, I have added another column to record the actual effort and impact (once the task is done) so you can continue to hone your estimation skills.
This is the table used by the Coda automation - if you want to customize your values, you can do it here:
Priority Table (referenced by Coda automation)