While working for improvement, there may more no. Of projects which are in line ...
It is very important to select / prioritize the project to take more advantage in short time ( to eat low hanging fruits).
To take this advantage, project priority matrix plays important role.
Priority Matrix is a tool to prioritize which project/ improvement should be taken first and which can be put on last.
In this matrix, important parameters are taken into consideration :
1. Impact on Customer
2. Cost to execute
3. Benefits/ Savings
4. Length of projects
5. Resource availability
6. Feasibility in execution.
7. Success possibility ...
To make the priority matrix,
Step1- Row list of projects are listed in left column.
Step2-all above 7 parameters are placed as heading of columns.
Step3- table is ready for brainstorming.
Step4- consider ranking method
i.e. 1,3,5 or 1,2,3, ...10. As convenient to the team.
Step5- Evaluate each of the projects based on the parameters field considering impact, gains and requirements and give ranking out of 1-3-5 or 1-2-3 ... -10.
Step6- last column after all parameters, we can get Priority index. (By multiplying all ranks)
See Example :
In above Matrix, Project-3 can be selected to to take first/ prioritized as having high Index.
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Tags:- Also Read :
It is very important to select / prioritize the project to take more advantage in short time ( to eat low hanging fruits).
To take this advantage, project priority matrix plays important role.
Priority Matrix is a tool to prioritize which project/ improvement should be taken first and which can be put on last.
In this matrix, important parameters are taken into consideration :
1. Impact on Customer
2. Cost to execute
3. Benefits/ Savings
4. Length of projects
5. Resource availability
6. Feasibility in execution.
7. Success possibility ...
To make the priority matrix,
Step1- Row list of projects are listed in left column.
Step2-all above 7 parameters are placed as heading of columns.
Step3- table is ready for brainstorming.
Step4- consider ranking method
i.e. 1,3,5 or 1,2,3, ...10. As convenient to the team.
Step5- Evaluate each of the projects based on the parameters field considering impact, gains and requirements and give ranking out of 1-3-5 or 1-2-3 ... -10.
Step6- last column after all parameters, we can get Priority index. (By multiplying all ranks)
See Example :
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Tags:- Also Read :
5'S., Bench-marking., Calibration, CAPA., Fishbone Diagram, FMEA., Good Habits for Successful Engineers, Kaizen., Kanban., LEAN., MSA, OEE,
Priority Matrix, Quality Improvement , Quality Problem , Reproducibility, Root Cause Analysis., Scatter Plot., Seven QC Tools., Statistical Quality Control, SWOT Analysis, The key to success