Ranking is the process of ordering things from 1st to last. A strict ranking doesn't allow things to be considered equal. For example, Olympic medals are gold, silver and bronze with no possibility of ties at each level. A rating system is more flexible and allows you to rate things at the same level. For example, a customer can rate multiple hotels as being 3 stars.
The choice between ranking and rating systems greatly impacts outcomes. For example, if you prioritize project requirements with a rating system, it is common for all requirements to be rated top priority. A strict ranking is far stronger and forces decision makers to make tradeoffs that place priorities in order.
|Ranking Definition||Placing things in order with the possibility of ties.|
|Strict Ranking Definition||Placing things in order with no possibility of ties.|
|Rating Definition||Evaluating things according to a defined scale.|
|Related Concepts||PrioritizationStrategic Planning|
This is the complete list of articles we have written about strategic planning.
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