Software Product Management - Prioritization

Prioritization

A key aspect of Product Management is the correct prioritization of enhancements. Here's a method that works well (borrowed and adapted from Joel Spolsky):

• Identify the panel, i.e. whose opinion you are going to seek
• Make a list of all items
• Estimate the effort required (either in days or in money) - this needs to be very rough and approximate
• Add up the total effort, call it E
• Give the panel members a budget of 0.5 × E each - they can place this any way they like, including all on a single item. You should disclose the rough estimates to the panel, as it may influence their vote.
• Rank the items in terms of the ratio Votes / Estimate
• Do as many of the items as the actual budget allows, respecting the sequence