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The 20/20 vision is a collaborative game and technique of ranking a list of features in order of importance based on the perspectives of the stakeholders.
The facilitator writes the features on cards and shows them to the stakeholders.
Stakeholders are asked to to rank the features based on their importance. Cards of lower and higher importance are moved down and up in the list, respectively. The result is a list of features in order of importance.
Team with the customer use the Bang-for-the-buck technique to rank the work items based on the value of each feature and the required estimated effort for the development (cost).
The team knows the size of the work items best, and the customer knows the business value of the work items best.
When story points are used in the bang-for-the-buck technique, the benefit value of a work item is the division of the value points by the corresponding story points.
Balancing Risk and Value method brings the risk and value together for prioritization. Stakeholders use a 2x2 risk-value matrix that maps value and risk from high to low. The mapping helps to make decisions and prioritization from highest to lowest priority as:
Wiegers’ method makes a relative prioritization using a weighted computation of benefit, penalty, cost, and risk of every feature.
This method applies only to features whose priority can be negotiated, not to mandatory ones (e.g., to meet compliance, compliance, or regulatory requirements).
In Dot Voting (aka. dotmocracy), each Stakeholder is given a predetermined amount of dots to assign to the business features. After summing up of the dot votes, the features are prioritized and placed in a relative ranking order.
Kano Analysis look at perceived customer satisfaction to prioritize a product feature or user story. Kano Analysis looks at five categories:
It should be noted that customer satisfaction and expectations change over time and therefore need to be reviewed and addressed on an ongoing basis.
MoSCoW is a popular technique for value-based prioritization. Stakeholders would decide on each work unit by assigning:
In Monopoly money approach, stakeholders receive monopoly money in the form of fake currency equal to the amount of the project budget. Stakeholders distribute the Monopoly money among the features that they value most.
This approach is most effective when limited to prioritizing business features.
The 100 point (aka. comulative voting) method is kind of opinion poll to set priorities for items (e.g., features) in a group setting. Each participant in the group is allotted 100 points. Participants assign points to the most important items.
The result would be weighted distribution of points on the items. Finally, the votes are summed up and the items are ranked in order of highest to lowest number of votes.
Numerical Assignment is a simple scheme for prioritization. The items in the backlog are ranked as
However, this method has the risk of prioritizing all items as priority one.
Analytical Hierarchical Process (AHP) takes a list of features and does a pairwise relative comparison based on some weighted evaluation-criteria. Accordingly, each feature achieves a total score that is used to derive the relative order.