Business Impact Matrix

The Business Impact Matrix is a strategic tool used to evaluate and prioritize business activities based on their potential impact and the effort required to implement them. It helps organizations focus on high-impact, low-effort tasks to maximize efficiency and effectiveness.

At a very high level, the Business Impact Matrix is used in the context of business, strategy, decision-making.

Want to try this template?
Other Templates

What is the Business Impact Matrix?

A visual explanation is shown in the image above. The Business Impact Matrix can be described as a matrix with the following quadrants:

  1. Quick Wins: High impact, low effort tasks that should be prioritized; e.g., implementing a simple software update that fixes a major bug.
  2. Major Projects: High impact, high effort tasks that require significant resources; e.g., developing a new product line.
  3. Fill-ins: Low impact, low effort tasks that can be done in spare time; e.g., organizing office supplies.
  4. Thankless Tasks: Low impact, high effort tasks that should be minimized; e.g., creating detailed reports that are rarely used.

What is the purpose of the Business Impact Matrix?

The Business Impact Matrix is a powerful framework for businesses to assess and prioritize their activities and projects. This 2x2 matrix categorizes tasks based on two key dimensions: 'Impact' and 'Effort'. The 'Impact' axis measures the potential benefit or value a task can bring to the organization, while the 'Effort' axis evaluates the amount of resources, time, and energy required to complete the task.

By plotting tasks on this matrix, businesses can identify which activities will yield the highest returns with the least amount of effort, allowing them to allocate resources more effectively. The matrix is divided into four quadrants:

  • Quick Wins: High impact, low effort tasks that should be prioritized and executed immediately for maximum benefit.
  • Major Projects: High impact, high effort tasks that are worth investing in but require significant resources and planning.
  • Fill-ins: Low impact, low effort tasks that can be done when there is extra time or resources available.
  • Thankless Tasks: Low impact, high effort tasks that should be minimized or avoided as they do not provide significant value.

Use cases for the Business Impact Matrix include project management, strategic planning, and operational efficiency. For example, a company might use the matrix to decide which new product features to develop, which marketing campaigns to launch, or which internal processes to streamline.


Want to try this template?

What templates are related to Business Impact Matrix?

The following templates can also be categorized as business, strategy, decision-making and are therefore related to Business Impact Matrix: Product-Market Matrix, 4 Ps Marketing Mix Matrix, AI Capability-Value Proposition Alignment Matrix, AI Innovation-Value Alignment Matrix, AI Maturity Matrix, AI-Value Proposition Alignment Matrix, AI-Value Proposition Matrix, AIDA Marketing Matrix. You can browse them using the menu above.

How can I use Business Impact Matrix in Priority Matrix?

You can get Business Impact Matrix in your Priority Matrix in just a moment:

  1. Click to sign in or create an account in the system
  2. Start adding your items to the matrix
  3. If you prefer it, download Priority Matrix and take your data with you

Learn more about Business Impact Matrix, and get free access to lots of other templates, at templates.app. Once you are comfortable with the document, you can easily export to Excel, if you prefer to work that way.

If you have any questions and you can't find the answer in our knowledge base, don't hesitate to contact us for help.