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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.|
Type | Metrics | 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 |
Strategic Planning
This is the complete list of articles we have written about strategic planning.
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A list of techniques for developing and implementing a strategy.
A list of macro environment components.
The difference between business plan and business case explained.
Analysis of organization abilities.
The difference between a strategy and a plan.
The common types of estimates.
A definition of budget planning with examples.
A definition of market intelligence with examples.
An overview of industry change with examples.
The basic types of strategy.
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A list of interesting business theories.
A definition of knowledge work with examples.
A list of social processes, absurdities and strategies related to office politics.
A guide to product development.
The differences between types of knowledge.
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A list of common business models.
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