What is the best way to prioritize problems when you have multiple issues to solve?

1 Identify the problems

The first step is to identify the problems that you have to solve. This may sound obvious, but sometimes problems are not clearly defined or communicated. You need to ask yourself and your stakeholders what are the main challenges, goals, and expectations that you have to meet. You can use tools like SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) criteria or RAPID (Recommend, Agree, Perform, Input, and Decide) process to clarify the problems and their scope.

2 Evaluate the impact

The next step is to evaluate the impact of each problem on your project, client, and firm. You need to consider how urgent, important, and complex each problem is, and how much value it can generate or risk it can mitigate. You can use tools like the Eisenhower matrix or the Pareto principle to rank your problems based on their impact. The Eisenhower matrix divides problems into four categories: urgent and important, urgent but not important, important but not urgent, and neither urgent nor important. The Pareto principle states that 80% of the results come from 20% of the efforts.

3 Allocate the resources

The third step is to allocate the resources that you have to solve the problems. You need to consider how much time, money, and people you have available, and how you can use them efficiently and effectively. You can use tools like the ABCD method or the MoSCoW method to prioritize your resources based on their value and necessity. The ABCD method assigns a letter to each resource: A for absolutely necessary, B for beneficial, C for convenient, and D for desirable. The MoSCoW method assigns a word to each resource: Must have, Should have, Could have, and Won't have.