Here’s our latest installment of tools you might want to use to make risk management tasks easier and more effective.
Continuing our focus this month on priorities, here we discuss additional prioritization tools.
The Ansoff Matrix is a marketing prioritization/planning tool that was developed by H. Igor Ansoff and first published in the Harvard Business Review in 1957. The Ansoff Matrix helps organizations develop strategies for future growth by using four strategies: market penetration, product development, market development and diversification. To learn more about how this tool is used to better understand the risks involved with each strategy, read this post from MindTools.
The Boston Matrix is a marketing tool developed by The Boston Consulting Group in the 1970’s. It is similar to The Ansoff Matrix, in that it helps users prioritize opportunities. For more information on how to use this tool, read this tutorial from SmartInsights.
Decision making skills can be very important, especially when it’s related to prioritizing. The Decision Matrix, also known as The Pugh Matrix Analysis, can help you make decisions by weighing different factors. Watch this video to learn how to create your own Decision Matrix. Visit this resources to download a free template.