The Weighted Scoring model assists product managers to decide what features and projects to do next.
Scoring system is a low-cost and convenient way to determine the relative value of any number of things you may work on. The Weighted Scoring approach allows taking features or initiatives and ranking them with the help of a benefit-versus-cost framework on a number of criteria, and then using the scores you’ve come up with to decide which initiatives make the cut.
Specific criteria for the scoring may be selected based on well-defined product goals and metrics. For example, for “In terms of potential benefits” the following may be choosen:
Increases income
Helps to acquire new customers
Helps to retain current customers
Adds Value for users
How often is needed
In terms of costs, the following can be evaluated:
Time and cost of development
Time and cost of implementation
Operational costs
The point with the Weighted Scoring model is to quantify, to the best of your ability, each competing initiative on your list to help you prioritize the roadmap.
This method of scoring can be useful for companies to evaluate what they think is the relative impact on strategic objectives for a group of possible new features.
First of all, choose the option among other prioritization techniques in Hygger:
You need to create your own criteria, each of it can have its own scale (0..10, any number, t-shirt size, USD, yes/no). Then, you set weights for each criteria.
You evaluate features by these criteria, so each feature is getting the score
You get the table with a list of all features so you can choose the winners
You Push features to Kanban or Scrum boards for development.
Prioritizing your stuff correctly, you will boost your productivity, minimize stress and save time for the most important tasks and issues.
Using a weighted framework for prioritizing product roadmap can be invaluable to help you make smart decisions that ultimately lead to product and company successes.
If you want to get more about prioritization and feature scoring opportunities, dive into the other powerful models that Hygger proposes:
Also, you can watch the short video tutorial 'How to Manage your Product Backlog'.
