Purpose: the 100$ method is to help your team collectively prioritize projects, tasks, or ideas.
Attaching a monetary value to each idea or feature allows your team to visualize and think about them in concrete terms, which facilitates prioritization.
This takes about 1 hour to 90 minutes, depending on the size of the group. Best for 3-5 people. If you have more people, divide them into groups of 3 to 5 and allow for team discussion at the end, where everyone presents their prioritization, and you as a whole team discuss and come up with the final matrix.
Here's how you do it!
- Explain the purpose of the workshop to your group.
- Every group gets a matrix that has three columns.
One marked features/ideas/projects(all depending on the goal of the workshop), a column with a money sign, and the last column marked "why". - Tell your team you have 100$ and that you collectively have to spend the money on the features/ideas based on their value and importance. Ask them to write down their reasoning in the last column.
- Give them enough time to assign value to each idea. When it is done, ask them to present each feature and the reasoning why.
- Summarize the discussion and the next steps that will be taken based on this prioritization and send it to your team in your communication channels after the workshop.
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