What is the value vs effort matrix?
The value vs effort matrix is a simple 4 quadrant prioritization matrix with Value on the Y-axis and Effort on the X-axis. It provides a rough gauge for Product Managers to quickly do feature prioritization, which is a part of the product management process.
Categories of ideas and features
Quick wins (high value + low effort)
Big bets (high value + high effort)
Maybes (low value + low effort)
Time sinks (low value + high effort)
Other prioritization frameworks
ICE and RICE are two other prioritization frameworks that provide more granular approaches for assessment. Weighted Scoring is a framework that allows for analyzing features against company objectives. The Kano model provides another sophisticated framework, based on the degree of customer delight.