| With limited resources, you can't improve every process at once, so it is imperative to identify those projects that have the highest priority. The following table is an example of a prioritization matrix whereby each of five factors is given a rating, and the product of those factors gives a relative score that can be used to set priorities. This matrix format can be modified to fit the needs of your organization - add or delete factors, or change the rating scales to give greater weight to a factor. The example below includes hypothetical data from a manufacturer of plumbing products. You can see that the ultimate priority ranking by "score" is different than the priority from cost savings alone because of the weight of other factors. You can download a Microsoft Excel template below:
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