Best Practice Prioritization
Best Practice Guides
Resource Center »
GenSight enables you to master the complexity of prioritizing across a broad range of initiatives that have different objectives, potential rates of return, investment risks and constraints.
The prioritization methodology incorporated into GenSight enables you to systematically compare a diverse portfolio of projects and initiatives so as to make more robust decisions.
GenSight incorporates the following principles:
- Uses both hard and soft information – financial metrics and supporting qualitative inputs
- On-Line business case and “project profile” questionnaires capture key criteria in a repeatable and concise format – provides the fact base to feed the prioritization process
- Financial and strategic criteria – Typical criteria include Financial Return, Strategic Value, Organizational Fit, Innovation, Probability of Success, Market Attractiveness, Competitive Advantage.
- A flexible scorecard system to combine and aggregate the criteria applicable to prioritization – fully configurable to your business.
- Weighting system – to assign relative importance levels to criteria and scorecards
- Pairwise comparison process – to tune the prioritization model to reflect decision makers mindset
- Utility functions – To normalize diverse financial and numeric measures into a consistent scale of “worth”
- Stage-Gate Linkage – Very simple prioritization criteria at early feasibility stages, expanding to more rigorous criteria and financial metrics at later stages when more information is available