We get requests from people that are looking for a fast way to do a quantitative ranking of a small group of projects or budget items and still use a defensible and robust methodology. If you’re one of those people or you’re curious about how a multi-attribute project ranking works, then we’ve created a free project portfolio managment tool for you. This spreadsheet will compare and rank up to 25 projects using up to 20 different attributes. All of the spreadsheet logic and math is already built-in; all you need to do is fill-in the blanks:
  1. Enter the Attribute Names that you’re going to use to compare your projects
  2. Enter the data ranges for each Attribute such as lowest cost to highest cost
  3. Enter the Attribute “Weights.” The weights indicate the relative importance of each attribute in the model, for example, an attribute with a weight of “2,000” would be twice as important as an Attribute with a weight of “1,000.”
  4. Enter your Projects and their Attribute values and the relative ranking for each project is calculated automatically!
This spreadsheet has the Multi-Attribute Utility Decision methodology built-in, so you don’t need to spend the time and energy doing it yourself. However, when it comes to Project Portfolio Management, spreadsheets are not nearly enough. Although this spreadsheet will give you an accurate ranking of your projects using a multi-attribute model when filled out correctly, spreadsheets are difficult to maintain, audit, and ensure accurate data. Plus, you don’t have simulation or easy to use optimization tools in a spreadsheet. But for a quick ranking of a small portfolio of projects, this will get you started.