Post written by

Forbes Technology Council

Being a business leader is often a constant struggle to balance the overall needs of the company with the time, resources and talent available to meet those demands. A good manager understands the priorities of every department that is affected by their team’s work, and based on that, he or she figures out the best plan of action to satisfy all parties involved.

However, this is no easy task. Even the best planners sometimes run into conflicts and need to adjust their original approach. If you need help prioritizing your tasks and projects, follow these tips from Forbes Technology Council members.

1. Establish Clear Alignment With Business Strategy 

Many companies are going through transformational change and need to change the types of projects they undertake. Yet many lack the necessary information to do so and also struggle to change the way they make project investment decisions. Focusing on how projects support or enhance (potentially changing) business strategy brings an important perspective to the prioritization. – Paul Heller, Sopheon

2. Rank Projects According To Impact And Effort 

Prioritization is a process that depends on culture. So first, establish a culture that prioritizes impact for effort and understands the 80/20 rule. Capture all ideas, as good ones are a function of volume. Then, prioritize by impact/effort. Pursue only easy wins (high impact, low effort) and big bets (high/high). Kill maybes (low/low) and losers (low/high). – Simon Smith, BenchSci

3. Anticipate Setbacks And Assess Potential Losses 

It’s important to understand what the cost of a delay would be if a project were to be pushed back. To effectively prioritize based on company needs or demands, it’s crucial to ensure that you assess the resources needed for a particular project and have a contingency plan. If you fail to do this, you need to identify which project will cost the most, not just from a revenue standpoint. – Sanjay Malhotra, Clearbridge Mobile

4. Attack The Most Time-Sensitive And Highest-Impact Projects First 

In business, it may seem like every project is a priority. The key is to quickly analyze which are the most time-sensitive, group them and knock out the ones that will provide the biggest impact and value. Out of those, I’m a believer in tackling the one that is the most difficult and time-consuming. Don’t be afraid to eliminate projects that have minimal value on your business. – Ernie Bray, AutoClaims Direct Inc. (ACD)

5. Understand Your Team’s Bandwidth 

When it comes to prioritization, the biggest consideration is to measure the impact of a project versus the time and resources that need to be devoted to it. A firm understanding of the value each project brings back to your company coupled with a knowledge of your team’s bandwidth is crucial for prioritization. – Zohar Dayan, Wibbitz

6. Always Put The Customer First 

What will have the greatest and most immediate positive effect on direct, indirect or internal customers? A project holding unlimited potential for customers really has no potential if it’s not deliverable in time to help customers. That project should drop in priority in favor of one that may have less impact but can be delivered more quickly and start benefiting the customer sooner. – Michael Tso, Cloudian.com