Dynamic Prioritization

What are the advantages of Dynamic Prioritization compared to others more commonly used, like “first in first out”?

Dynamic prioritization differs mainly on setting the goals and works to achieve the through the employment of outcome-based techniques, flexibility and time efficiency. The basic outline of this model can be found in the table below:

Business impact – The starting point is the fiscal impact a change will have on the current business. As well as alignment and involvement with the rest of the business organization (financial, sales, customer service departments etc.)
Optimizing the resources – Introducing flexibility and no long-term project dedication will render the new project development start impossible.
Faster release cycle – Dissecting projects to smaller ones and increasing the testing and changes introduction pace.
Financially accountable initiatives – Analysis and benchmark against forecasts.

How can we forecast the potential impact of a change done on a website?

Although it is hard to put a specific number on an impact, one can make an educated guess by working with the following process:

Assign value tags to site and business KPIs. Do that through research on attitudinal, behavioural and competitive data. Also, run tests and talk to other departments to see things into perspective.
Compare the opportunities you nominated by evaluating the cost, chances, profit vs revenue, offline impact, a timeline to implement and payback. But don’t forget the overall impact on the UX (User Experience).
Choose the ones that make sense and remain flexible. The web is a dynamic environment that changes all the time. A couple of weeks ahead, you might see other opportunities & priorities.
Observe, analyze and evaluate. These three actions are the cornerstones of helping the estimation more exact through amassing experience and data gathering.

What are the key factors to get to an efficient prioritization process?

A few steps that an organization has to take to move to a more efficient prioritization process. This involves taking a more practical approach and letting emotions out by starting on a small scale, not raising high expectations and last but not least getting the support from an executive that will drive the change through in case there is resistance. Focus on the business and try to get a few wins at the beginning. No one trusts losers.