Decide resource allocation by evaluating the impact, urgency, and alignment of each project with organizational goals. Prioritize projects that deliver the highest value or are critical to long-term objectives. Assess the resource requirements and current workload to avoid overcommitting your team. Consider the risks and benefits of pausing existing projects versus delaying new ones.

The balance between new and existing projects is a constant challenge. Firstly, I carefully assess the potential impact of new projects, considering their return, innovation potential, and alignment with overall strategic goals. Simultaneously, I monitor the progress of existing projects, ensuring they remain on track. This ongoing evaluation allows me to identify potential roadblocks and to minimize disruptions. Secondly, I employ a prioritization framework that considers both the urgency and importance of tasks. Then, I can effectively allocate resources to the most critical areas. Regular reassessment of priorities is crucial to ensure that resources are always allocated to the most impactful initiatives.

Deciding between new and existing projects boils down to impact, urgency, and alignment with goals. For existing projects, consider their strategic importance, deadlines, and potential setbacks if delayed. For new projects, evaluate their ROI, innovation potential, and stakeholder expectations. Prioritize those that align with key objectives, promise high impact, or have imminent deadlines. Balance is key — dedicate resources to maintain the momentum of ongoing work while allocating some to growth opportunities. Communication with stakeholders ensures alignment and clarity. Remember, as Steve Jobs said, “Deciding what not to do is as important as deciding what to do.”

When deciding between new and existing projects, I prioritize based on impact, alignment with strategic goals, and resource availability. For existing projects, I assess their progress, potential for successful outcomes, and continued relevance. For new projects, I evaluate their innovation, feasibility, and potential to address emerging needs. Stakeholder input, funding availability, and long-term sustainability are key factors. Ultimately, I aim to balance innovation with maintaining momentum on impactful ongoing initiatives, ensuring resources drive meaningful and measurable results.

Weighting the impacts that are linked to the company’s business growth and revenue generation will help inform decisions about the urgency of projects. This assessment should consider the average time spent on each project, regardless of whether they are existing or new. Once evaluated, we can prioritize which projects should be completed first.

Feeling like a juggler with too many balls in the air?Here's how to decide what to catch: Assess impact: Imagine you're a baker. Should you try a new cupcake recipe or fulfill pending wedding cake orders? Focus on what satisfies more customers. Prioritize goals: If your bakery's goal is revenue, completing big orders trumps experimenting. Re-evaluate regularly: Got wedding cakes done early? Free up time for that new recipe. Balancing new ideas with existing work is like running a bakery—serve your goals first, then innovate. What's your approach? Share below!

Start by assessing the potential return on investment and long-term benefits of each project, weighing these against the resources required. Prioritize projects that address critical needs or offer significant growth opportunities, ensuring existing commitments are not neglected. Consider timelines, resource availability, and team capacity to avoid overextension. Collaborate with stakeholders to align on priorities and gain buy-in. By balancing short-term deliverables with long-term innovation, you can allocate resources effectively and maintain both momentum and focus.

This is a resource allocation problem that can be addressed through decision analysis. I suggest the following steps: 1. (Re)evaluate the costs, risks, and benefits (e.g., market share, profits) of the projects, aligning with the company's priorities and values. 2. (Re)allocate resources (e.g., human resources, marketing) based on areas and strategies, determining which areas should receive more or less funding according to benefits and risks. 3. It is crucial to use a tool to compile potential strategies, plotting costs, benefits, and risks on a graph to help identify the best options. 4. Conduct a sensitivity analysis to assess how changes in criteria priorities affect strategies, while comparing the returns of both projects.