The value-effort matrix chart is used as a way to help clients prioritize features and find their MVP. On a 4-quadrant chart, value is plotted on the x-axis and effort on the Y, or vice versa. The objective of the exercise is to place the previously created and refined user stories and plot them appropriately on the quadrant where they can be measured and assessed.

Start with value, as this is likely the more important element to consider. Once plotted, utilize a tech representative such as a solutions architect to estimate the effort of the user story best.

Once your top user stories are mapped, write down the stories in order from highest value and lowest effort to lowest value and highest effort. Implementing high-value, low-effort features is a strategic way to quickly add value to your product while knocking out low-hanging fruits.

For a summary of this exercise, see below:

• Use the FigJam template for the value-effort matrix exercise. Ask the PO/PM to write down any user stories if this has not already been done.
• Start by locating the collection of user stories in FigJam or ask the client to find the user story that’s the most valuable and then the one that’s the least. This gives you the relative scale.
• Have the workshop participants collectively rank the user stories according to value. As a strategist, you should lead this discussion and ensure that all member’s opinions are voiced. Move story by story until you place them all within the chart. Once agreed upon, place the user story at the correct location.
• Ask our SA to line up user stories or features on the effort scale.
• Discuss if the story mappings fit the product vision.
• Use the outputs of this exercise to create a user story map and phase roadmap with the PO/PM, based on the value-effort chart. Discuss this internally with the team.