Aug 11

Weighted Scoring Prioritization

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This is one of several prioritization frameworks covered in the Prioritization Essentials course.

What is a Scorecard?

A prioritization scorecard is a method of prioritizing where you assess different ideas against a set criteria.

For example, your criteria could be ‘user experience’, ‘increase revenue’ or ‘cost to implement’, etc.

User Experience Effort Risk
Idea #1 5 31

What is a Weighted Scorecard?

A Weighted Scorecard on the other hand is a form of scorecard that adds weights to its prioritization criteria.

Rather than each criteria contributing the same amount to the final prioritisation score, we add different weights to each criteria based on what is more or less important to us.

For example, we may value having a great user experience more than increasing revenue.

Criteria Weight
User Experience 50%
Increase Revenue 30%
Risk 20%

How to create a Weighted Scorecard

STEP 1: Define your scorecard criteria. Ask yourself, what variables do you want to assess your ideas and opportunities against?

Add weights to each criteria. Weights work based on a percentage and should add up to 100%.

For example, if you had 4 attributes and wanted them to be weighed equally, you would have 4x 25% weights. The higher percentage, the more that score will contribute to the final score.

Determine your scale and score each idea/opportunity. My preference is a scale of 1-5

Advanced Weighted Scorecards

Taking Weighted Scorecards to the next level.

You can make your weighted scorecard more advance by creating groups of weights. A simple example of this is splitting your criteria into two groups of value vs effort:

How to use an AdvancedWeighted Scorecard

There are two key differences with an advanced weighted scorecard over the standard one.

1) The first is with weights. Rather than all your weights adding up to 100%, each category (value/effort) should add up to 100% each.
2) The last difference is the equation. Rather than adding each of the individual scores up, when we split the scorecard but groups like value and effort,we then want to perform a Value/Effort equation.

(ValueCriteria_1 + ValueCriteria_2 + ValueCriteria_3) = Final Value Score

(ValueCriteria_1 + ValueCriteria_2 + ValueCriteria_3) = Final Cost Score

Final Cost Score ÷ Final Cost Score = Final Score

*Sheet 2 in the Weighted Scorecard Template has an template for an Advanced Scorecard.

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