A prioritization matrix is a tool that can be used in strategic planning and evaluation scoping to categorize potential projects according to their feasibility and impact.
The idea is that you can create a Cartesian coordinate plane with feasibility on the x-axis and impact on the y-axis. This creates 4 quadrants that we can think of as follows:
| High Impact/Low Feasibility | High Impact/High Feasibility |
|---|---|
| Low Impact/Low Feasibility | Low Impact/High Feasibility |
This can be useful for determining which work we want to prioritize now (typically high impact/high feasibility), which we want to strategize about (high impact/low feasibility), and which we want to avoid (anything low impact).