![]() If any of your records are missing values in the Value or Risk field, they'll be mapped onto separate cells for records with empty values. To make this sort of matrix for your own team, start from a table of potential new features, products, opportunities, or initiatives, and make two single select fields for value and risk. ![]() The simplest type of value-risk matrix is a 2x2 grid of quadrants: the value for a given project can be either low or high, and the risk for a given project can be either low or high. The value-risk matrix is especially useful when you're less certain about your underlying assumptions-meaning that it's a particularly useful framework when you're building out entirely new products or initiatives. Risk is inherent in product development: there might be uncertainty about your estimates for how long a feature might take to complete or how much it might cost, uncertainty about your team's ability to execute on the feature, or uncertainty about how much executive support a project might receive. The value-risk matrix is an alternative to the value-complexity matrix that also categorizes potential projects by their expected business value-but (as you might expect) it categorizes them by how risky they would be to implement, rather than by how complex they would be to implement. Low-value, high-complexity items should be deprioritized or reconsidered altogether. You can always revisit these features in a later development cycle or consider alternate approaches that might make them higher value. Low-value, low-complexity items might or might not be worth your time eventually, but definitely should not prioritized above your high-value features. One way to approach these features might be to consider whether it's possible to break them down into simpler, less complex tasks. High-value, high-complexity items are typically larger strategic initiatives that will require a lot of effort and time-but will ultimately be worth the hard work and pay enormous dividends in the long run. However, a common pitfall is to only prioritize these features, at the expense of your high-value, high-complexity features. ![]() High-value, low-complexity items can be considered “easy wins” or “low-hanging fruit” and should definitely be considered for your product roadmap. This is useful for moving cards around the matrix on the fly, if you're not yet sure where a given feature falls. If any of your records are missing values in the Value or Complexity field, they'll be mapped onto separate cells for records with empty values. To make this sort of matrix for your own team, start from a table of feature requests or potential new features, and make two single select fields for value and complexity. The simplest type of value-complexity matrix is a 2x2 grid of quadrants: the value for a given project can be either low or high, and the complexity for a given project can be either low or high. “Implementation complexity” is a similarly broad category, encompassing how much time it will take for a feature to be implemented, how technically challenging it is to implement that feature, and how much it will cost to develop that feature-to name just a few examples. “Business value” can include any of a number of different concepts depending on your company's overall strategic objectives: how useful a given feature will be for customers, employees, or suppliers the ability of a new feature to generate more revenue, traffic, or publicity or the positive impact the new feature might have on the product's performance, security, and reliability. One of the most intuitive and straightforward methods for prioritizing your product roadmap is categorizing potential new features by their expected business value and implementation complexity. Today, we'll focus on a few of the most popular types of prioritization matrices for product planning: the value-complexity matrix, the value-risk matrix, and agile user story mapping. There are many different kinds of prioritization matrices, each optimized for different purposes. If you're already managing lists of feature requests and user stories in Airtable, the latest addition to the Airtable Blocks platform- the matrix block-allows you to automatically create a prioritization matrix from your existing information. Of course, that's easier said than done-looking at the big picture can be difficult when you have a large number of opportunities to choose from and a ton of stakeholders, all of whom want different things.Ī matrix is a simple product management tool you can use to visualize each potential feature in the context of all the other potential features you could develop. In order to make the best use of your team's limited time and resources, you need to master the art of effective prioritization. Turn your feature backlog into an actionable matrix of prioritized initiatives.
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