Include your strategic objectives - Projects should be prioritized in a number of dimensions. As part of aligning to strategy they must first be scored for their ability to meet the objectives.

Set your criteria assumptions - Projects should also be scored against criteria such as ROI, Speed of Return, Investment Required, etc. This model lets you put in the variables that meet with your organizational requirements.

Team members -  Allows the entry of all of the managers who will be assigned sponsorship of the individual projects.

Set rank weighting - Weight each of the criteria for what high medium and low (or any other criteria) you might use to begin scoring.

Once these assumptions are in the model projects can be copied from programs such as Microsoft Project or any other program and listed in the model for prioritization. The model automatically will sort by score, due dates, sponsors, number of objectives they relate to and more. There is nothing so simple to use and fast to create in the market today.