An Impact/Effort Matrix (also known as a PICK Chart) is a great way to prioritize improvement opportunities that are identified by your project team. This tool classifies items by Impact (high or low) and Effort (again, high or low). The chart below shows one way to implement a PICK chart:
PICK chart
The labeling in the chart shown is a little different (Impact is replaced by Payoff; Effort is replaced by Implementation) but the end result is the same: solutions are organized in a logical manner that maximizes the likelihood of a successful conclusion to the project.
You may notice the letters “P”, “I”, “C”, and “K” in the center of the chart. Below is a brief explanation of their meanings:
- P (Possible): Lies at the intersection of easy implementation and low payoff. These are solutions that are determined to be quick and painless to put in place, but will likely have only a small impact on the process.
- I (Implement): These are solutions that are easy to implement and also have a high potential payoff. This is your “bread and butter”. The best solutions tend to wind up in this block, because the project team can see easy results that have an observable and measurable impact.
- C (Challenge): Regardless of how you interpret the word (the solutions either ARE a challenge, or should BE challenged), you should proceed with caution. These solutions have a potential high payoff but are also hard to implement. You probably have some excellent solutions here; in fact, your highest payoff solutions are quite likely in this box. You should pursue at least some of them. Just make sure to get some quick wins from the “I” box too, as the “C” solutions can take a long time and are riskier.
- K (Kill): Don’t do it. These solutions are hard to implement and have very little payoff. They aren’t an effective use of your time, and will take up more resources than they are worth.
Overall, a PICK chart (or Impact/Effort matrix) is an excellent tool. It allows your project team to prioritize their own choices (I like to precede a PICK chart with brainstorming and an affinity diagram, but each project is different) and it provides a logical stepping stone to assigning responsibility for task completion to individual team members.
Have you used PICK charts before? What have your experiences been like? There’s always more than one way to skin a cat, so if you have a better method please leave a comment and tell us about it!