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What is it for?The Effort-Impact matrix is a decision-making tool that helps companies and teams save time and make the most out of resources.
The tool helps you gauge what activity to prioritize and the ones you should avoid based on the amount of effort needed and the level of impact it will have. This helps you to allocate your resources efficiently.
When to use it:When you have many tasks or projects to complete but don’t have as much time or resources, this tool help's you decide on what tasks and projects you should focus on, ones you can leave till a later date, and the ones you should ignore.
Who can use it:Anyone who has a lot on their plate! Like the Strategy and Innovation teams, Product teams and individuals looking to develop ideas into solutions and business offerings.
How to use it
Download the Effort – Impact matrix tool.
Place the tool on the wall so all your team members can see.
List out all the activities or projects your team is planning on carrying out. Write them on post-its.
Assess one-by-one, the impact (results you stand to gain) effort (amount of resources you will need to expend) of each activity.
Position on the matrix accordingly i.e. high impact, low impact, high effort, low effort.
Select and start with the ‘TRY NOW’ (high-impact-low effort) and the ‘TRY LATER’ (high-impact-high effort) sections. Identify and allocate time-frames, resources, and individuals.