Product owner is often confronted with a large backlog. This post continues to explain how to consider priority of stories. See principles in previous post.
Measuring risk and positive value allows to calculate the order in which stories should be developed. Very nice and simple visualization can be Risk vs. Value chart.
Chart is split into four segments. Small dots represent stories. They are colored according to the status of the story.
As Product Owner you would like to deliver the most valuable stories as the first. But development team can find them too risky. Good risk management suggests to focus on the riskiest items as the first.
Combining these two attributes ScrumDesk suggests to develop the most valuable, but the riskiest stories as the first.
Second stories to be develop are still stories with the high value, but they are less risky. Development team is able to finish them in more manageable way.
Which stories should be never done? The riskiest with the lowest value. Why to develop something that earns $0 while it is very risky?
What to do in this case? Explain customers about your point of view and delete them from a backlog. If you can…
Using this approach your development team can be sure it develops what is needed. One look on such diagram helps to Scrum Master and Product Owner to validate the order and focus the team.
