Benefits Matrix
What is it?
The Benefits Matrix is a tool with a sequence of steps to map opportunities or ideas based on their importance and complexity to help you prioritise and make decisions.
Why and when should I use this?
Once you've generated lots of ideas, use this tool to help you prioritise which ones you will take forward. The Benefits Matrix will help you identify quick wins, nice-to-haves, major strategic ideas and ideas to leave behind based on their impact and the degree of effort required.
How much time should I spend on this?
20 minutes. This exercise often sparks conversations about what different team members see as important or challenging. Take the time to explore these perspectives, it will help ensure you're prioritising the right ideas.
Who should I involve in this?
Who you involve depends on what you are trying to achieve. This can be used with participants to simply prioritise their ideas or with your clients to help them come to a direction for your project.
How to use it...
- Position ideas horizontally from least to most impactful: Place each idea on a separate stickie and position them, in a straight line, in order of importance or impact on the horizontal axis.
- Move ideas vertically from least to most complex: Keep the order of the stickies, and move each idea vertically on the vertical axis in relation to how difficult or complex it will be to develop or implement that idea.
- Label the four quadrants to help you see priorities:Top Left: Not for now – High effort & Low impact Bottom Left: Nice to haves – Low effort & Low impact Top right: Major strategic ideas – Hight effort & High impact Bottom right: Quick wins – Low effort & High impact
- Connect ideas: Draw lines to show the sequence of activity and number ideas in the order they will be taken forward.