Project prioritization is one of the most common topics in portfolio management literature. Within the context of project prioritization is the matter of scoring models because scoring models are the most widely used approach to prioritize projects. Although there are a lot of opinions on the effectiveness of common scoring models,
Prioritization is about focus—where to assign resources and when to start the work. It is not about scoring methods and ranking mechanisms. Without defining project priorities, it is difficult to effectively distribute personnel to carry out the highest valued projects. Project priorities enable management to assign their employees to the most
When people refer to the “war for talent” many discussions center on talent acquisition and try to answer the question “how do we hire the best people?” Although talent acquisition is important, talent development and retention are also very important (you want to keep those great people you hired, correct?).
There are many different approaches to project prioritization, but the most popular ones are the financial method and the scoring model. In this posting let us examine the financial methodology. In…