You must be able to see every task that your team needs to tackle before trying to prioritize them all. Make an all-inclusive list of the things your team has to do for your project under your Backlog so that you can reference each one when it's time to create your matrix.

The key here is to list only the top goals that your team has agreed upon. Adding too many can derail the focus of your project, so it's best to add just a few. You'll use your goals as the point of reference for placing each task, so they should be written and available right above the matrix.

This part should take the most time as you and your team determine the level of impact and effort that each task has on your goals. Which tasks bring the most value to your goals? Are there some that are more urgent or time-sensitive than others? What consequence could you face for prioritizing one task over another? Questions like these should be addressed in a group discussion with the team and can help determine the scope of each to-do from the list you created earlier.

Based on the color each task falls on, list it under Must Do (green boxes), Nice to Have (yellow boxes), or Won't Do (red boxes). From both the matrix and these lists, your team will be able to visualize the priorities for your project and act accordingly to get the job done as efficiently as possible.

It's important to communicate the status and results of each task to your entire team, stakeholders, and anyone else whose work may be affected. "@" mention a team member for each task and set a date for when you can follow up with questions and address any risks or concerns.