low priority quadrants of the rating matrix

The effort would be high due to the identification of a new software, training for all employees on the new platform, creating a new standard operation procedure for consistent use of the process, as well as the detailed transition process and confirmation of contracts being successfully transitioned. Depending on the services or work associated with the contracts in process during the time of implementation the level of risk has the potential to be significant. Switching from an internal process using SharePoint or an Access database to track contracts to a more sophisticated software, contracts could get delayed in the process. The risk in this scenario could be significant. Implementation of a new contract management system. Adding in the value of the transparency and increased trust among employees, this could easily shift more toward Quadrant 4 depending on the group discussion and prioritization. Given the first three variables of risk, cost and effort, this scenario would fall into Quadrant 2. The value to employees would be moderate. The risk in this situation would be very low, the cost would be minimal and the effort is above low, but not significant. The goal is to improve transparency and consistency in communications. New communication methods for senior management to share regular information with employees. This project would fall under Quadrant 4. The value of implementing this would be high – being able to implement and track grants quickly will allow work to be done with grantees in a timely manner. The effort would be significant and the cost for the new system would be moderate.

Grants could already be in process, or all processing would have to halt until the new system is in place. This is somewhat of a moderate risk for the agency. Implementing a new grants management processing system from manual to electronic. Accountability for the success of the RVCE model output should be monitored and evaluated on a regular basis. Assign members of the group responsibility for getting the prioritized issues in Quadrant 4 accomplished and then look at the issues in Quadrants 2 and 3.Ĩ. Quadrant 4 – these issues are high in all four decision criteria but should be investigated since the payback in time and effort maybe substantial to the organization.ħ. Quadrant 3 – these issues should be prioritized to get implemented since they have high value and effort but low cost and risk.ĭ. Consider these a second phase since they may be low level enablers for other more important things to get done.Ĭ. Quadrant 2 - these issues you may want to consider in the future as other more important ones are implemented first.

Quadrant 1 - these issues should be avoided since they have high risk and cost plus low value.ī. Once each issue is evaluated, ranked, and placed in the matrix it is time to decide what you should implement.Ī. Evaluate each issue and rank them from high to low for each criterion and then place the issue in its appropriate place in the matrix.Ħ. Draw the RVCE Matrix on a white board or flip chart as shown in Figure 1.ĥ. This will help to have a consistent evaluation of each issue.Ĥ. Before starting the evaluation, develop a group consensus definition on what each of the criteria means to the organization and the stakeholders. As a group, evaluate each issue in terms of the four decision criteria (Risk, Value, Cost, and Effort). Give everyone in the group a list of the issues to be prioritized with an explanation of what each issue title encompasses.ģ. Convene a group of stakeholders for the issues to be prioritized.Ģ. Look at the prioritization and make sure it makes sense based on your experience. When using the RVCE matrix the leaders need to carefully consider what comes out of the prioritization and to use that information as a guideline and not a definitive answer. It is best used when an organization needs to prioritize a series of important issues and decide which ones it wants to focus on to achieve their strategic and operational goals. Effort - amount (quality and quantity) of resources needed to get something done Cost - amount that must be paid or a parameter given up to get something in returnĤ. Value – desirability or quality of something considered worthwhileģ.

Risk - potential of gaining or losing something of value.Ģ. These four decision criteria are summarized below: 1. What are the decision criterias of the RVCE prioritization matrix? Sign up to our newsletter and join our community of experts. Don't miss any news, updates or insider tips from PEX Network by getting them delivered to your inbox.

Low priority quadrants of the rating matrix