Time 17 - Priority Matrix

Priority Matrix is a customisable tool you can use to identify critical tasks or projects. It can range in simplicity from a simple chart that contrasts urgency and importance to a much more complex grid that will look at many different criteria. The matrix is the most effective when used to rank upcoming projects. Because it is customisable you can choose criteria that are better suited to your needs, as everyone is different. 

A simple way to set up a priority matrix is to create a grid with four different categories; important and urgent, urgent but not important, important but not urgent and not urgent nor important. This setup provides a clear guide of what tasks should be tackled first. They also help with task-making decisions, as they are easy to understand and simple to work with. To use the suggested four categories successfully (or your chosen categories) first make a list of all the tasks you may have to do in the future. Then assign a numerical value rating where it lies in relation to each criterion you have chosen, this should be between one and ten, one being the least critical in relation to the criteria and ten being the most. Finally, compare these numerical values and place each task in its relevant category on the matrix. 

Priority matrices do however have some weaknesses. There may be bias in the results of creating the matrix or end up with completely different projects that have the same score. Also, the use of this method can lead to project delays. Sometimes important tasks can be left until the last moment if you did not truly realise how necessary they are. So while they are a useful tool it is important to be wary of their downfalls.