What is an impact effort matrix or priority matrix?
An impact and effort matrix, also known as an Eisenhower matrix or a priority matrix, is a prioritization tool that allows individuals to order actions or projects according to their potential impact and the effort required to achieve them. The impact and effort matrix is composed of four categories, visualized by quadrants, which represent levels of potential impact and effort required:
Using this matrix, teams can visualize and assess the potential impact of each action and determine the effort required to complete it. This allows teams to prioritize actions and focus on those that have the greatest potential impact with reasonable effort. The Impact and Effort Matrix is a simple but effective tool to assist in prioritization and project management decisions. This ensures that valuable time and resources are allocated effectively.
- Category 1: High Impact, Low Effort (High Priority actions because they offer a high return on investment)
- Category 2: High Impact, High Effort (Medium Priority actions because they are important, but must be planned carefully to avoid potential risks and challenges)
- Category 3: Low Impact, Low Effort (Medium Priority actions that are considered secondary and can be completed if additional time and resources are available)
- Category 4: Low Impact, High Effort (Low Priority actions and should be avoided, deferred, or delegated)
Using this matrix, teams can visualize and assess the potential impact of each action and determine the effort required to complete it. This allows teams to prioritize actions and focus on those that have the greatest potential impact with reasonable effort. The Impact and Effort Matrix is a simple but effective tool to assist in prioritization and project management decisions. This ensures that valuable time and resources are allocated effectively.
Why is an impact / effort matrix used?
By using an impact/effort matrix, teams can better understand priorities and make informed project management decisions. It is a simple but effective tool to assist in decision making, planning and resource allocation.
Who uses an impact / effort matrix ?
The Impact/Effort Matrix is a simple but effective decision-making tool that can be used by any individual or team who wishes to evaluate and prioritize actions to be taken based on their potential impact and the effort required to complete them. If resources such as time, money, or people are limited, this board can be immensely helpful.
How to set up an impact / effort matrix board in iObeya?
In iObeya, it’s easy to set up an impact / effort matrix board:
- Enter your room, then click Configure the room at the bottom right of the screen.
- Add a blank board to your room.
- Select the impact / effort matrix board background from the background catalog.
- Add in your tool dock a new set of Notes and rename them according to the different categories and some free text.
- Your board is now ready to be used.
Pro Tips on how to set up an impact / effort matrix
We recommend that you follow a well-defined model for making and using an impact/effort matrix:
- Assess the potential impact using hard data
- Assess the effort required and consider potential challenges.
- Prioritize actions based on potential impact and effort required
- Reassess the matrix regularly to ensure that priority actions remain aligned with long-term goals.
