Prioritizing Projects

Every organization or managers are always concerned about prioritizing their project with individual approach.  Prioritizing tasks can be a great challenge for project managers as one project may be a priority for one, but little priority for others.

Today I am going to share some tips about effectively prioritizing of the project.

-          First of all, have a clear objective and what you want to achieve in life. In other words, your mission statement should be crystal clear.

-          Evaluate the resources which are available to complete the task. The most important of them being time and money.

-          The project manager  needs to make a list of requirement and rank them according to their importance. ( High = Is a must, Medium = would be useful, Low = relax )

-          The project reaction of the organization need to be calculated before prioritizing. What impact might it cause on the organization if proceeded.

-          Approximate the difficulty of the project along with a cost estimate.

-          Allocate a weight scale for the projects as 1-10, 1-High to 10-Low. Sort out to decide ranking.

Further, I would like to share a project prioritizing technique that I have learned recently. It is called as “CARVER”. It is originated as an acronym in military terminology  for selection of any target. It has also been used in project management to help in prioritizing tasks.

C- Critically A- Accessibility R- Return V- Vulnerability E- Effect R- Recognizability

Make a rank sheet on the basis of these characteristics and rank each project in marks as 1-5 ( High – Low) . Then simply the sum the points given to each project and you will a have a clear way of prioritizing the project.

Let us know if you have any further tips or techniques that can help in prioritizing the tasks.