When prioritizing your portfolio, you usually see what projects or programs rise to the top as winners and which fall to the bottom as losers. Now depending on “What If” planning some of the winners and losers can switch places. Let’s assume you are just interested in your initial prioritization in which you have your winners, losers, and the very scary middle ground. These projects or programs are on the border of being a winner or a loser. There is absolutely still value in these projects and they require your stakeholders to make trade-offs amongst them.
Decision Lens allows you to conduct a very thorough trade-off analysis. The ability to dissect a small subset of your portfolio and see where it stacks up against any combination of your weighted criteria is a critical step in moving forward or not with particular projects. Below you can see an example of three projects that are “Sometimes Funded” between two scenarios and are categorized as “European” projects. Assume you are required to fund one of these three projects to meet the needs of your European market.
Your organization can now determine which of the three projects looks like the best option based on how it is compared to the six valued criteria. If your organization is focused on financial reward during the decision making process, Mango is the project for you. If you are looking for safer bet, possibly Topcat is the one. Possibly a project that is more balanced, try Wombat.
For more information, please visit decisionlens.com.