The Eisenhower Matrix and Value/Risk are other prioritization methods included in 2X2 Priority Matrix
The Eisenhower Matrix is one of the most popular methods to prioritize tasks. By using this method you evaluate tasks with Importance and Urgency. It is a commonly used method as everyone can understand how urgent and important their tasks can be.
The main idea of the method is to define and distinguish tasks on those that should be quickly completed and those that are important for your company or for your clients. You focus on the tasks that require your attention to this particular moment and which are important now.
To switch on these methods you need to do the same steps as to switch on the Value/Efforts Matrix. The Priority Matrix view will be also available for this method.
You can rate tasks as you have done it before with the Value/Efforts. The difference between the two matrices that they have different axes and quadrants. On the Priority Matrix you may notice such quadrants as ‘Do Now’, ‘Schedule’, ‘Delegate’ and ‘Eliminate’.
You may find more about this prioritization method and its quadrants in our article.
Once you rate tasks, please, open the board view, so you can sort tasks by its Importance and Urgency. If you collect all ideas and insights you can sort cards by criteria you are using at the moment.
You open the three dots menu of the column where you want to change the sequence of tasks. You will notice the option Sort by…
Once you choose one of the options, you will be asked if you are sure that you want to change the tasks sequence. We double asked you as once you click sort your tasks won’t be returned to its original order.
Sort by option is another way to decide on what tasks you are going to work on. It gives you a clear vision of the tasks with high importance or with high urgency and put it to the top of the list, so you can quickly find them.
Value and Risk.
It’s a third 2x2 prioritization matrix that it’s already included in Hygger, so you don’t need to change axes or quadrants names to rate your tasks with Value and Risk.
We are already familiar with Value, it has the same meaning as in the Value/Efforts. Meanwhile, there are several kinds to estimate Risk. You can rate your tasks by Functionality Risk(the functionality limit), Schedule Risk(it takes too much time, you won’t meet the deadlines on time), Cost Risk (it will take more than it was specified) and many more.
The main idea of this method is to avoid highly-risk tasks as it requires more money, resources, time than you have at the moment. You can return to it later when your company will grow and you will have more capabilities. This method is more useful for the new products and start-ups as you do tasks that bring you money but won’t lead you to bankruptcy.
There are the same quadrants as in the Value/Efforts rate - Big Bets, Quick Wins, Time Sinks and Maybes. In case of Value/Risk you need to avoid tasks from Big Bets, they are too ‘risky’ for your project. You need to move from Quick Wins to Maybes and then to Time Sinks. Why so? As you will need to complete tasks with High Value and then you can do those things that have a Low Value as a warm-up.
So we have discussed three prioritization methods that are included in the 2x2 Prioritization Matrix. If you have another 2x2 Priority Matrix in your mind and you want to rate tasks with it, you can change any of the three mentioned above methods. Interested? Let’s go to Lesson 5.