This Project Selection Template is designed to provide management with information to support the project selection process. It allows to identify the most appropriate improvement projects and prioritize them based on their potential impact to the business. This ensures business priorities are taken into account, and drives management commitment by giving them the opportunity to contribute to the continuous improvement effort.
This workbook uses two methods to select the most appropriate improvement projects: the Project Prioritization Matrix (PPM) and the Pareto Priority Index (PPI). Both are numerical scoring methods used to determine the relative value of projects based on certain criteria. This will allow to compare among the various improvement projects in order to select the most promising and profitable.
This template runs in Excel, and you can modify it for your own use. For example, you may want to re-design the score interpretation of the PPM to better guide your decision based on your particular situation. You can also use whatever parameters in both methods that are relevant to your situation. “Learning Opportunity” for example might replace the “Time to Completion” parameter in the PPI.
Later and after selecting the most promising and profitable improvement projects, project managers and team leaders may use the project tracking template to monitor and track progress.
Project Selection Template (32 KB)
Project Selection Template (168 KB)
Pareto Priority Index Template (170 KB)