2x2 Prioritization Matrix Template
Help your team base important decisions on weighted criteria with the 2x2 Prioritization Matrix Template.
About the 2x2 Prioritization Matrix
The 2x2 prioritization matrix, or lean prioritization approach, is a tool that helps teams decide what to tackle next in their product backlog.
The method is a quick, efficient way for your team to focus on features most likely to be valuable to your customers versus effort actually taken to deliver those features.
Any team applying lean start-up methodologies can also use this matrix to make decisions and figure out where to focus their efforts in relation to where the risk is, or where the most valuable opportunities are.
If you need a matrix that accommodates different phases or iterations, and granularity of effort versus value (from high to low), you may be looking for a 3x3 prioritization method.
What is a 2x2 prioritization matrix?
This model is a priority matrix that can help product managers determine priorities, and is also suitable for anyone leading projects and initiatives who needs help deciding what their team should focus on. A 2x2 prioritization matrix typically has 4 segments representing varying levels of effort and value:
Big bets, aka “do it next”: Product features or tasks that are valuable but difficult to implement.
Quick wins, or “do it now”: Product features or tasks that are valuable and easy to implement.
Time sinks, aka “don’t do it”: Product features or tasks that aren’t worth investing in right now.
Maybes or “do if or when there’s time”: Low-value tasks that can be returned to later on.
The value parameter considers the business value of your product feature or idea. The effort parameter considers resources (like time, money, people) that may be needed to finish the tasks outlined.
When to use the 2x2 prioritization matrix
Agile development teams can use the 2x2 prioritization matrix to decide which features, fixes, and upgrades to work on next. This framework can help you decide the least amount of features you need to launch a Minimum Viable Product (MVP), or prioritize tasks for an upcoming Agile sprint.
Whether you’re a product manager or leading a new business initiative, it’s worth considering how each idea informs each of these elements:
Acquisition (gaining new customers)
Activation (when customers understand the value of the product or feature)
Reach (how many customers are impacted)
Revenue (the profitability of a product or feature)
Retention (returning, active customers)
Virality (influence or “stickiness” of the product or service)
Teams can also use the matrix to make business decisions such as:
New markets worth pursuing and prioritizing
Campaigns and messaging to invest in
Departments, functions, or capabilities worth building or expanding on next
Ideally, a 2x2 prioritization matrix helps your team create boundaries around what is realistic to tackle, and develop clarity and consensus around what’s most important for success, versus nice-to-have or unnecessary.
Create your own 2x2 prioritization matrix
Making your own 2x2 prioritization matrix is easy. Miro’s virtual collaboration platform is the perfect canvas to create and share. Get started by selecting the 2x2 Prioritization Matrix Template, then take the following steps to make one of your own.
Step 1: Define your business value
Ideally, tie the value of a product feature or initiative to how your organization drives value. Discuss with your team whether you’re looking at strategic, customer, or financial value. Edit the value parameter text as needed.
Step 2: Define your risks
Risks usually come in the form of implementation (complexity, cost, or effort) and business-related (failure to adapt to change, compliance needs, or operational issues). Consider both. Discuss with your team which are more likely to impact plans. Edit the risks text as needed.
Step 3: Edit your priority categories as needed
You can also label the quadrants “Challenge,” “Implement,” “Reconsider,” and “Possible.” Brainstorm with your team about what action words best fit your product or initiative.
Step 4: Confirm and reach a consensus on priorities
The matrix brings reason and logic to a team dynamic. Everyone may have different opinions when first planning, but ideally, you want to end sessions with shared language: “low hanging fruit,” “hot zone,” “special investments,” “possible but low-value,” “more research before committing,” “only if extra budget and time are available,” and “not right now.” Think of these phrases as a spectrum between effort and value. Make decisions and investments accordingly.
Get started with this template right now.
Fishbone Diagram Template
Works best for:
Operations, Diagrams, Workflows
What is the best way to solve any problem your team faces? Go straight to the root. That means identifying the root causes of the problem, and fishbone diagrams are designed to help you do it best. Also known as the Ishikawa Diagram (named after Japanese quality control expert Kaoru Ishikawa), fishbone diagrams allow teams to visualize all possible causes of a problem, to explore and understand how they fit together holistically. Teams can also use fishbone diagrams as a starting point for thinking about what the root cause of a future problem might be.
MoSCoW Matrix Template
Works best for:
Ideation, Operations, Prioritization
Keeping track of your priorities is a big challenge on big projects, especially when there are lots of deliverables. The MoSCoW method is designed to help you do it. This powerful technique is built on a matrix model divided into four segments: Must Have, Should Have, Could Have, and Won’t Have (which together give MoSCoW its name). Beyond helping you assess and track your priorities, this approach is also helpful for presenting business needs to an audience and collaborating on deliverables with a group of stakeholders.
Project Proposal Template
Works best for:
Project Management, Documentation, Project Planning
For any type of project, the Project Proposal template can be a crucial step toward clarifying the context, goals, and scope of a project to get stakeholder buy-in. A project proposal outlines what you want to accomplish, your goals, and how you plan to achieve them. Generally, a project proposal gives the reader some context on the project, explains why it is important, and lists the actions that you will take to complete it. Project proposals have myriad uses. Often, businesses use project proposals to get external buy-in from a donor or outside stakeholder. But many companies draw up project proposals for internal buy-in too.
Blue Ocean 4 Actions Framework Template
Works best for:
Leadership, Decision Making, Strategic Planning
For entrepreneurs, so much comes down to new users—how to attract them, impress them, and convert them to loyal customers. This template, designed by the authors of Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, will help you maximize value for you and your customers alike. Using the template’s four steps (divided into easy columns), you’ll easily evaluate your products in more innovative ways and make sure money is being spent in areas that really matter.
Cisco Network Diagram Template
Works best for:
Software Development, Diagrams
Cisco offers data center and access networking solutions built for scale with industry-leading automation, programmability, and real-time visibility. The Cisco Data Network Diagram uses Cisco elements to show the network design of Cisco Data Networks visually.
Disney Creative Strategy Template
Works best for:
Business Management, Ideation, Brainstorming
Know who knew a little something about coming up with ideas that set imaginations alight? Walt Disney. And he inspired the Disney Creative Strategy, an approach that establishes three types of thinkers—dreamers, realists, and critics—and gives each the space to do clear thinking. Your team will go through an engaging exercise of adopting the three mindsets, where they’ll focus on a specific aspect of the idea. The Disney Creative Strategy has a way of yielding brilliant ideas and great products. That’s why it’s used successfully by organizations of all kinds and sizes.