It is the process deciding which requirement should go first for the development based on several scenarios. In general we calculate the relative importance of any requirement based on its urgency, amount of risk involved, difficulty of implementation, likelihood of its success, stakeholder agreement or policy compliance. Prioritization ensures that the most critical requirements are addressed immediately in case time or budgets run out.
The biggest challenge we face in doing the requirement prioritization is when client ranks all of their requirements as high value requirements.
In this case as a Business Analyst we should put our negotiation cap and make them understand why all requirements cannot be of the same value and also explain them the
Process with which we can categorize their requirements in High, medium and log (When you rank requirements on an ordinal scale, you give each one a different numerical value based on its importance.).
Below are some of the basis explained based on which we can prioritize our requirements:-
- Risk involved:- we have to select and investigate the requirements that are of highest risk of project failure. Reason behind that is that if the project fails at the beginning itself then there will be very minimal loss of time, resource and budget.
- Business Value:- This is done on the cost-benefit analysis . The requirement which got the high rank based on CB Analysis will be implemented first.
- Stake holder Agreement:- This approach requires the stakeholders to reach a consensus on which requirements are most useful or valuable. Usually this is combined with rest of the requirement prioritization base.
- Likely hood of success:- In general we use this in case when we want to earn the goodwill of our customer by implementing the requirements which will show the early sign of progress.
- Difficulty in implementation:- This approach selects requirements that are easiest to implement. It allows the project team to gain familiarity with the implementation process or the tools.
- Regulatory or Policy Compliance:– This approach prioritizes a requirement that has to be implemented in order to meet regulatory / policy demands imposed on the organization.
Some of the techniques that can be used to prioritize the requirements are:-
- MoSCoW:- Categorizing the requirements in Must have , Should have, Could have and Won’t have. And this is the most widely used technique.
- Voting:- Where stakeholders( from different departments ) are asked to vote for each and every requirements .
- Decision Analysis:- we use several decision making techniques to prioritize the requirements . Like Decision tree.