The value to the organization can be immediately achieved and the organization is comfortable with the overall fit. These opportunities should be moved forward and funded to advance the organization. The low-hanging fruit analogy works well here.

This quadrant speaks volumes for those opportunities that are easy to implement and have high Social/Economic Value. Typically, these projects will see the light of day, but just not in this round of approvals. Timing is everything and the projects in this quadrant generally spark up good positive interest, but the organization isn't prepared to implement them now. Basically, this quadrant contains the 'nice to have,' but not the 'need to have' opportunities and benefits. This quadrant of the matrix is for those projects that are less difficult to implement, but have a lower Social/Economic Value. The challenge is to quantify the benefits in the context of business value.Д®ven more critical to qualifying opportunities effectively is to understand the quadrants of the matrix in relation to the potential for positive business impact.

The entire benefits of an opportunity should be investigated when bringing new opportunities forward. Many opportunities are lost when faced with the concept 'if it isn't broke, don't fix it.' Successful organizations take the time to quantify all benefits, and to build environments that are moving the whole organization forward rather than just handling the issues relating to sales, manufacturing, and/or finance. Many opportunities have a social benefit that is difficult to measure вЂ“ for example, social impact is often overlooked when qualifying employee portals and intranets. This method has proven to be successful in building an organization, but in a highly competitive marketplace more factors need to be considered than just the old standbys. Too many opportunities are measured on pure economic value. How difficult will it be to implement the opportunity? Do you have the correct skills? Is the organization ready? Are there obstacles in the way of success? Can success be measured? These are some of the critical questions that need to be answered before you extend too many resources to the development of the opportunity. The axis and quadrants of this matrix represent a powerful tool for qualifying opportunities. What was deferred last time may be ready for action now, especially if your identification process has made a continued to effort to a build common technological framework for delivering business value. On a regular basis, opportunities should be placed on the matrix for comparisons and synergies. Using the priority matrix will give the organization a visual perspective of where their priorities align. Either of these conditions can be deadly for the overall effectiveness of your team. All too often groups get transfixed by the projects they want to work on or they just focus on the last one in the door.

The Priority Matrix is both a formal and informal process for the Information Technology professionals to ensure that the large list of projects is properly dealt with.

Opportunities priority matrix maker