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Product Management

Impact Prioritization Matrix

March 1, 2024

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Most organizations are absolutely TERRIBLE at prioritizing. 

They’re like headless chickens, running around, picking projects based on gut feelings, who shouts the loudest, or the so-called "wisdom" of the highest-paid person in the room. 

What does that get you? 

Low-impact projects. Wasted time. Burned cash. Total misalignment with what really moves the needle.

I present to you…drum roll please...The Impact Prioritization Matrix. This framework is all about evaluating opportunities by impact (what really matters) and effort (how hard it is), so you focus on the high-impact, low-effort stuff that creates serious value. 

This Matrix will take your team from "busy" to “productive” and make sure every move counts!

It’s all about dumping that task-driven mindset. Say goodbye to the days of measuring success by how many boxes you check off today. We’re measuring it by how much impact each of those checks makes on your bottom line and your customers.

Forget outputs. Focus on outcomes. No more blindly taking on work. Ask the tough questions: "Does this move us closer to our goals? Does this WOW our customers?"

And before you even think about using the Impact Prioritization Matrix, get all your potential plays on the table. 

Gather every idea, every project, every task—anything that could move the needle.

This all starts with a killer brainstorming session. Bring in the A-team from different departments, throw everything on the wall. No idea is too wild. 

Break the ideas down into clear buckets—Product Enhancements, Customer Experience, Growth Plays, you name it.

Impact and Effort—those are your new North Stars. But you gotta know what they mean. Be SPECIFIC. None of that vague "important" or "hard" crap.

What does "high impact" mean to you? Is it revenue growth? User satisfaction? Pick your poison.

And what’s “low effort” in your world? Minimal resources, time, cost? Nail it down.

Then it’s time to get down to business. Plug your opportunities into the Impact Prioritization Matrix and score them like you mean it. The Matrix is a simple 2x2 grid, but it’s gonna make you think.

  • High Impact, Low Effort? Do it now. These are your quick wins.
  • High Impact, High Effort? Plan these strategic bets carefully.
  • Low Impact, Low Effort? Only if you’ve got capacity. Don’t get distracted.
  • Low Impact, High Effort? Avoid these time sinks like the plague!

Once the scores are in, it’s time to put it all on the table. Let everyone see the cards, so there’s no second-guessing. Transparency kills doubt and builds trust.

Break down why you’re prioritizing what you’re prioritizing. Tie it back to your criteria and goals. They need to all understand the “why”.

And once you’ve got your priorities set, execute on those Quick Wins. Craft a detailed execution plan outlining who’s doing what, by when, and with what resources…make it clear.

Like all product frameworks, this isn’t a “one and done” tool. You’ve got to keep coming back to it—regularly. Your market’s shifting, your customers are evolving, and your strategy needs to stay ahead of the curve.

So in your scheduled reviews assess what worked, what bombed, and why. Fine-tune the Matrix to keep it sharp.

The Impact Prioritization Matrix isn’t just a tool…I like to view it as a mindset shift. It’s about making every decision count and driving the results that matter most. It’s the simplest way in my mind to craft a “why” behind a strategic, data-driven move. 

So take a stab at using the Matrix today. Challenge your team to think, prioritize, and execute like never before. 

Stay creative,

Dwayne Walker

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