How can you use priority management to make strategic decisions?

Starting with your vision and values helps set you up for success when you're in the trenches of tough decision-making. Think deeply about the why behind your strategy. The stronger your vision, the clearer you can make your values and what you stand for. From there, managing stakeholders all ties back to what you’re trying to achieve, from expectation setting to collaborating in a way that can deliver on your goals.

As an Agile professional, I use priority management to help me in my job to focus on the most important work. I tend to look at fixing items that would be blockers for a bunch of tasks and get those done to clear the way for the others. It is also important that the scrum teams deliver value to customers quickly. Having a shared vision amongst your team also helps your team with productivity by having shared values. If you all know the driver(s) and what needs to get done, you are all moving in the same direction to accomplish your goal(s) sooner. Backlogs help prioritize and scope out the size of the work. They also allow for a tool should the team need to reprioritize. Agile facilitation can help the team craft working agreements.

Tips for clarifying your vision and values: Reflect on your past experiences and accomplishments. What are you most proud of? What have you learned from your challenges? This can help you to identify your strengths and values. Think about your future goals and aspirations. What do you want to achieve in your life or career? What kind of impact do you want to have on the world? This can help you to clarify your vision. Talk to people who inspire you. What are their visions and values? How do they live their lives? This can help you to gain new perspectives and to develop your own vision and values.

The big challenge is to have an updated vision adapted to the context. Agility is a critical skill to successfully make the necessary adjustment when needed. In my opinion, the integration of the human dimension is a priority and a key success factor in the decision-making process.

Establishing a clear vision and core values is pivotal for strategic decision-making. Take Apple Inc., for example, which thrives on its vision of creating premium, user-friendly devices and its values of innovation and quality. Business leaders should not only clarify but also quantify their vision and values through KPIs for measurable performance. Regular reviews ensure projects align with the overarching vision and values. Involving a diverse set of stakeholders in this process can provide a well-rounded perspective, fostering more inclusive decision-making.

I recommend adding an "E" to the SMART framework by integrating the ecological aspect. This has a double dimension: external (compliance with international environmental standards) and internal (preservation, improvement and alignment with the company's internal social atmosphere).

After setting a vision and values, the next crucial step is to translate these into actionable goals and objectives. Google exemplifies this with its OKR framework, where objectives like "making Google Cloud the best cloud for more businesses" in 2018 were set with measurable key results in revenue and new product launches. For business leaders, it's crucial to perform regular audits of success metrics and implement real-time tracking systems. Open communication channels can facilitate quick problem-solving, ensuring that the team remains aligned with the objectives.

Tips for defining goals and objectives: Make sure your goals are aligned with your vision and values. Your goals should be things that you are truly passionate about and that are important to you. Set realistic and achievable goals. Don't set yourself up for failure by setting goals that are too difficult or unrealistic. Break down your goals into smaller, more manageable objectives. This will make them seem less daunting and more achievable. Track your progress and make adjustments as needed. Don't be afraid to change your goals or objectives if necessary. The important thing is to keep moving forward.

I recommend supplementing the prioritization tools by using the ABCDE method which integrates a human dimension (pleasant tasks, to be delegated, etc.). 1 - A: very important tasks 2 - B: less important tasks 3 - C: pleasant tasks to do 4 - D: tasks to delegate 5 - E: tasks that can be eliminated

In my experience, if a task has little to no return, think about how you can eliminate it. Use data analysis to back up your position and question the “why”. You may find your management is wiling to listen and you will look more strategic and be viewed like a leader than a manager of tasks.

Common misconceptions about the step "Identify and categorize your tasks": All tasks are created equal. Not all tasks are created equal. Some tasks are more important, urgent, and impactful than others. It is important to prioritize your tasks accordingly and focus on the tasks that are most important and impactful to your goals. You need to do everything yourself. It is not possible or efficient to do everything yourself. You should delegate or eliminate tasks that are not important or impactful to your goals. You should always work on the most urgent tasks. Not necessarily. The most urgent tasks are not always the most important or impactful tasks. It is important to balance urgency with importance and impact when prioritizing your tasks

Once goals and objectives are set, identifying and categorizing tasks based on their importance, urgency, and impact is essential. Toyota's Kanban system exemplifies efficient task categorization, aiding in streamlined production. For business leaders, employing analytics tools can automate this categorization, providing data-driven insights. Built-in flexibility allows for rapid adjustments to unforeseen changes, while periodic team reviews ensure that tasks remain aligned with organizational objectives.

In strategic decision-making, task prioritization is a cornerstone of my approach. After defining goals, I recommend a combination of the Rocks Principle and Eisenhower's matrix, categorizing tasks based on importance, urgency, and impact. Importance aligns with my vision, urgency addresses timing, and impact evaluates contributions to goals.

The BCG 2x2 model aids organizations in allocating resources effectively by highlighting which items to invest in, hold, harvest for cash, or divest. However, it's important to note that this model has its limitations, including its simplicity and reliance on historical data. Consequently, it's often used in conjunction with other strategic frameworks and analysis tools for a more comprehensive evaluation of a portfolio.

For urgent and less important tasks, delegation represents an opportunity to encourage competent and motivated employees. I recommend checking the second point to successfully achieve the targeted professional goals. Indeed, in certain cases, the employee may observe a period of reduced motivation due to exceptional professional circumstances. Delegating does not mean giving absolute responsibility. Coaching and asking for feedback is also important when needed.

After identifying and categorizing tasks, ranking and scheduling them is imperative for efficient execution. Amazon leverages advanced algorithms to prioritize tasks in its warehouses, enabling the shipment of over 1.5 million packages daily. Business leaders can gain further efficiency by adopting AI-driven tools for dynamic scheduling, backed by real-time data. Incorporating contingency plans for high-priority tasks ensures risk mitigation. Including team members in the ranking process not only maximizes accountability but also aligns individual efforts with organizational goals.

In addition to ranking and scheduling- focus on the 3 d’s. Some tasks should not be completed by you- some tasks could be delegated or deferred for maximum efficiency. I also learned not to focus on small items even if checking them off makes me “feel” more accomplished. Focus on tasks that matter most to your organizations mission or bottom line.

The analysis of a Kanban board could tell us about the level of production and operational performance of the group. For example, a pile-up of “tasks in progress” at the end of the year could indicate a problem with productivity and quality of project products or deliverables (being tested and improved). This is probably a signal that the initial prioritization should be improved.

Executing and monitoring tasks are critical steps in the action phase. SpaceX exemplifies this through real-time data analytics, achieving an 80% success rate for Falcon 9 missions. Business leaders should consider implementing predictive analytics to preemptively identify potential roadblocks. A performance dashboard provides real-time insights, allowing immediate course correction. Instituting post-task debriefs can offer valuable insights into what worked and what didn't, fostering a culture of continual improvement.

Self-feedback represents an opportunity to continually improve according to the continuous model. The manager prioritizes tasks by using different tools according to needs. I also recommend the exchange of feedback between members of associations or even in the professional context to share experiences and learn lessons.

Reviewing tasks allows reflection on progress, learn from experiences, and acknowledge both successes and challenges. This reflection process is invaluable for continuous improvement and growth. Adjusting tasks complements the review process and showcases a growth mindset. It involves updating plans, revising priorities, and making improvements based on the insights gained during the review. Being adaptable and open to change is essential in a dynamic work environment.

Along with all the above of ranking, making a priority list, also what needs to be evaluated is the time, effort and result or value. Smaller efforts brining in bigger value or what we sometimes call the low hanging fruit should not be ignored. Applying the Pareto principle to the decision is also a good way of making a priority list, example, adding a small functional enhancement or adding a small value product to large basket sometimes reaps in more result or revenue

With reference to my experience, two clarifications need to be made: 1. Process improvement could lead to productivity gains and accelerate strategic decision-making processes. 2. The use of digital tools could facilitate the prioritization of tasks.