Scoring models are used to prioritise the potential of ideas or projects and support selection decisions regarding their development or investment. They require criteria to be selected upon which a judgement will be made, allocation of scores for these criteria, and selection or prioritisation of ideas or projects on the basis of these scores.
Using ‘Scoring Models’
Step 1: Define criteria: Criteria aligned with the objectives of the organisation are determined. These could include, for instance, strategic alignment, impact to the business, ease of integrating changes with existing systems, cost savings, probability of success, or risk.
Step 2: Each of the criteria are provided a weight. These weights reflect the extent to which the criteria aligns with the objectives of the organisation. The total for all weights should equal to 1.
Step 3: Each of the criteria are assigned a numerical score using a predetermined scale, i.e. where 1 represents not important and 5 very important.
Step 4: A total score is calculated for each idea or project by multiplying each weight score by its corresponding criteria score and summating the values.
Step 5: The results are used to support decisions regarding the allocation of resources to new projects or ideas.
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