How do you update and revise a project alternatives matrix based on feedback and changing conditions?

1 Gather feedback

One of the first steps to update and revise your PAM is to gather feedback from your project team, sponsors, clients, users, and other relevant parties. You can use various methods to collect feedback, such as surveys, interviews, focus groups, workshops, or online platforms. The feedback should cover aspects such as the clarity, accuracy, completeness, relevance, and usefulness of your PAM. You should also ask for suggestions on how to improve it or add new alternatives or criteria.

2 Analyze feedback

Once you have collected feedback, you need to analyze it and identify the main themes, issues, gaps, and opportunities. You can use qualitative or quantitative methods to analyze feedback, depending on the type and amount of data you have. For example, you can use thematic analysis, content analysis, or sentiment analysis for qualitative data, and descriptive statistics, correlation analysis, or ranking analysis for quantitative data. The goal is to find out what works and what doesn't in your PAM, and what needs to be changed or added.

3 Update alternatives and criteria

Based on the feedback analysis, you may need to update your alternatives and criteria in your PAM. For example, you may need to add new alternatives that were suggested by your stakeholders, or remove alternatives that are no longer feasible or desirable. You may also need to modify the criteria that you use to evaluate the alternatives, such as adding new ones, changing the weights, or redefining the scales. You should make sure that your alternatives and criteria are clear, relevant, measurable, and consistent.

4 Recalculate scores and rankings

After updating your alternatives and criteria, you need to recalculate the scores and rankings of each alternative in your PAM. You can use different methods to calculate the scores and rankings, such as simple additive weighting, multi-attribute utility theory, or analytic hierarchy process. You should choose the method that best suits your project context and objectives. You should also document the assumptions and calculations that you use, and check for errors or inconsistencies.

5 Review and validate

The next step is to review and validate your updated PAM with your project team and stakeholders. You should check if your PAM is logical, comprehensive, transparent, and aligned with your project goals and requirements. You should also verify if your PAM reflects the feedback and changing conditions that you have identified. You can use various techniques to review and validate your PAM, such as peer review, expert review, sensitivity analysis, or scenario analysis. You should also solicit feedback on your updated PAM and address any concerns or questions.

6 Communicate and document

The final step is to communicate and document your updated PAM to your project team and stakeholders. You should present your PAM in a clear, concise, and engaging way, using visual aids, such as charts, tables, or graphs. You should also explain the rationale, process, and results of your PAM update and revision, and highlight the key findings and recommendations. You should also document your PAM in a formal report or memo, and include the details, sources, and references that support your PAM.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?