Product Development Prioritization Tool

Instructions:
1. In the "Selection Criteria" tab, customize weightings to match current business priorities. Be sure that your total weight equals no more or less than 100%.

2. In the "Project Scoring" tab, rank each project on a scale of 1-10 based on how well it meets the selection criteria.

3. Evaluate project scores in the "Rankings" tab to make resource allocation decisions.

4. Use the "Bubble Matrix" tab to communicate project rankings for strategic fit, economic impact, and feasibility.

Selection Criteria
Customize this tool by changing the weighting scale for each selection criterion. Feel free to modify the selection criteria as required.

Strategic Fit
Selection Criteria
Weighting Scale

Economic Impact

Feasibility

Total

Alignment with
Goals

Market
Positioning

Capabilities

Revenue
Potential

Cost/Benefit

Low Cost

Technical Risk

Resources Financial

Resources People

Weight

15%

15%

10%

10%

15%

15%

10%

5%

5%

100%

Ranking Critieria:

Definitions:

Alignment with Company Goals

How aligned is this project to corporate goals & objectives?

Market Positioning

Does this initiative position us better in the market?

Core Capabilities

Does this initiative leverage our core capabilities (technology, operations, sales)?

Revenue Potential

What is the anticipated impact on revenue for this initiative.

Cost/Beneft

Does this initiative have a solid cost/benefit?

Low Cost

Is this project relatively low-cost?

Technical Risk

What is the probability of overcoming the technical challenges of the project?

Resources - Financial

Do we have the financial resources to execute this initiative?

Resources - People

Do we have the skills & bandwidth to execute this initiative?

Project Scoring
Rank each Project on a scale of 1-10 for each criteria. There is a drop-down box for each Green, Amber, and Red cell.

Strategic Fit

Economic Impact

Feasibility

Alignment with
Goals

Market
Positioning

Capabilities

Revenue Potential

Cost/Benefit

Low Cost

Technical Risk

Resources Financial

Resources People

15%

15%

10%

10%

15%

15%

10%

5%

5%

Upgrade to Product A

Develop New Product X

10

Launch Product Widget

Staff Six Sigma Training

Portfolio Mgmt Software

10

Product B New Feature Release

ISO Certification

10

Quality Improvement Program

Production Facility Safety Program

Voice of Customer Initiative

Projects & Initiatives

Weighting

Rankings
Sort by selecting all Projects & Initiatives, Project Score, Strategic Fit, Economic Impact and Feasibility cells. Click "Data" and "Sort", and sort by Project Score (Largest to Smallest).

Projects & Initiatives

Project Score

Strategic Fit

Economic Impact

Feasibility

Develop New Product X

7.7

2.9

3.1

1.7

Voice of Customer Initiative

7.6

3.3

2.9

1.4

Launch Product Widget

6.6

2.7

2.7

1.2

Staff Six Sigma Training

5.7

3.2

2.0

0.6

Portfolio Mgmt Software

5.5

2.0

2.0

1.6

ISO Certification

5.2

0.9

2.8

1.5

Production Facility Safety Program

5.0

1.6

2.2

1.3

Quality Improvement Program

4.6

2.2

1.6

0.8

Upgrade to Product A

4.3

1.3

2.5

0.6

Product B New Feature Release

2.4

0.7

1.4

0.4

Future Potentials

Top Priorities

Feasibility

High

Bubble Size = Economic Impact

Low

Potential Cuts

Low

Back Burners

Strategic Fit

High