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This tool, also known as the effort-impact grid, is used in effort/impact analysis. This type of analysis is appropriate when the top criteria for decisions are the effort (time, money, difficulty) needed to implement them and the impact (effectiveness) expected from them, and the number of items to consider is small. The effort-impact matrix can also be used to choose which project among many to undertake first.

The group plots each choice along gradients of effort and impact, such that the choices fall somewhere within one of four quadrants (Figure 6-2). The group should decide in advance how it will prioritize the quadrants, according to the situation.

In general, low-effort, high-impact choices are best and high-effort, low-impact choices would come last. But then, which quadrant rates higher: high-effort, high-impact or loweffort, low-impact? The group may decide to act on choices that are low-effort and low-impact as resources allow and to study choices that are high-effort and high-impact. However, a group that wants to focus on a single choice that will make the biggest difference would want the choice with the greatest impact, regardless of the effort involved.

If the members reach agreement on priorities before analyzing each of the choices, the group can avoid the time and energy that might be spent after the choices are plotted in the matrix, as some members advocate for specific pet projects.

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Six thinking hats is a technique for considering an issue (a decision, a problem, an opportunity) from all important perspectives.  It forces participants to move beyond their usual thinking styles and helps them form a more complete picture of the situation. This tool was created by Edward de Bono, who presents it in full detail in his book, Six Thinking Hats. He developed this technique as a process for using lateral thinking in problem solving, particularly in groups.
The technique is simple in concept. When the group is considering an issue, the members all wear one hat at a time, figuratively. (Of course, if your budget can cover six hats for each participant,  they can wear the thinking hats literally and dress for success.) The facilitator indicates which hat to wear and when to switch hats. Some approaches will be more important than others, depending on whether the issue is a decision, a problem, an opportunity, or whatever else.

So, what are these hats and what perspectives do they represent?

White Hat: Participants focus on the information available and see what they can learn from it. They also look for gaps in their knowledge and they either try to fill them or take them into account. “I think we need to do some white hat thinking: what facts are we lacking to make this decision?”

Red Hat: Participants consider the issue using their emotions, intuition, and gut reactions. They also try to feel how other people will react emotionally to the issue, especially those who don’t fully know the reasoning of the group. The red hat allows participants to express reactions without any need to justify them. “If I can put on my red hat at this point, I think this proposal would be a mistake.”
Black Hat: Participants identify and examine all of the potential negatives of the issue. They should be critical, cautious, and defensive. This perspective is important—and often neglected because people usually want to be positive and optimistic. But if you’re aware of the potential negatives of an issue, you can work to reduce or eliminate them and/or to plan appropriately. “We need to wear our black hats for a while, because we’re getting caught up in our enthusiasm over this idea.”
Yellow Hat: Participants think positively. They take an optimistic perspective to consider all of the good points involved in an issue. This perspective is especially important when dealing with a problem or considering a decision that’s an uneasy compromise or necessitated by circumstances. “It seems that we’re going to need to make this change whether we like it or not, so maybe we should put on the yellow hats for a moment and find the silver lining in this cloud.”
Green Hat: Participants allow their creativity to play freely. The emphasis is on imagination—possibilities, alternatives, and new ideas; critical analysis is suspended. “OK, now, we’ve been going around in circles with this problem. It’s time to try our green hats.”
Blue Hat: Participants are thinking about the process, not the issue. This is the hat that decides which hat might be best to wear next. “I’m putting on my blue hat and deciding that we should do some more red hat thinking here.”

So, in summary, the six thinking hats technique consists of five focused perspectives or approaches and a hat that serves as the fashion sense, to decide which hat would be most appropriate at any given point.

Develop Differences

Perhaps the most neglected yet important aspect of promoting better interaction for discussing, generating ideas, solving problems, and making decisions is to invite to the meeting individuals with
diverse perspectives, a range of experiences, and different thinking styles.
To get new perspectives on your employees, read any article or book on thinking or collaborating styles—such as Team Players and Teamwork:The New Competitive Business Strategy by Glenn M.  Parker (San Francisco: Jossey-Bass, 1996)—and then try to analyze each of your people in terms of those styles.That new perspective could enable you to ensure diversity of thinking in your meetings.

Taken From : The Manager’s Guide to Effective Meetings

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PMI (“Plus/Minus/Interesting”) is a simple but important tool for making decisions. It’s used to weigh the pros and cons of alternatives, particularly actions.
The scribe draws on the flipchart or whiteboard three columns, headed “Plus,” “Minus,” and “Interesting.” Across the top, he or she writes the alternative or action under consideration.

Then the facilitator asks the group to come up with points about the alternative or potential results of the action. If a point is good or a result is positive, the scribe records it in the Plus column. If a point is bad or a result is negative, the scribe records it in the Minus column. Points or results that fit into neither the scribe puts into the Interesting (Implications) column.
If the issue under consideration is an action, it may be very obvious by the end of the discussion whether or not the action makes sense: either the Plus column or the Minus column dominates.
Of course, it’s not a matter of quantity of entries, but quality: one major factor can outweigh a long list of minor factors.

If the decision is not obvious from the discussion, the group should consider each of the items in the Plus and Minus columns and assign a numerical score (e.g., +2, -4, +3) for its importance, by consensus. The group should consider the items in the “Interesting” column, which may tilt the balance one way or the other. Only as a last resort, if the discussion does not lead to a decision, comparing the totals for Plus and Minus can help the group reach a decision.

If the issue under consideration is an alternative, the group should do a PMI for both or all of the alternatives, following the procedure described above.

Taken From : The Manager’s Guide to Effective Meetings

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How do you organize and prioritize ideas? Let’s look at some widely-used methods for doing that.

Affinity Diagram
An affinity diagram is a technique for reducing a large number of ideas, opinions, concepts, issues, and so forth—such as after brainstorming—by sorting them into clusters. The group can use a blackboard, a big whiteboard, a wall, or a large table for sorting.

If the contributions are already on self-adhesive note sheets or on cards, the group is ready to begin. If not, the facilitator distributes the flipchart sheets from the brainstorming session to the participants, who divide into as many groups as there are sheets, and then passes out index cards and masking tape or self-adhesive note pads and asks the groups to record the ideas from their sheets onto the cards or notes.

The procedure is simple.
1. The facilitator asks the participants to take their cards or notes to the sorting area and silently put them in logical clusters. They can move around the cards or notes as they want, without talking. After they all arrive at a consensus, they return to their seats. If a card or note seems to fit into more than one cluster, a participant can make a duplicate card or note so the contribution can be put into
both clusters.
2. The facilitator takes one cluster of cards or notes at a time. He or she reads the contributions in that cluster and asks the group to come up with a heading or title or label (usually three to five words) that best describes or encompasses the contributions in that cluster. The group may agree at this
point to combine similar clusters or to split large clusters.
3. The group then discusses the clusters and how they interrelate.

Taken From : The Manager’s Guide to Effective Meetings

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This is a technique similar to mind-mapping that allows a group to organize and logically display the results of both creative and analytical thinking. Also known as a form of storyboarding, it can be used to generate, sort, and develop ideas and to organize and/or plan. It creates a logical, visual structure to show interconnections among the ideas and how all the pieces fit together.

As with brainstorming and mind-mapping, participants are encouraged to contribute ideas and build the display. Anything goes, in a spirit of positive and creative thinking. The results are submitted to critical thinking later.

Displayed thinking requires a large surface: a corkboard or a blackboard or an empty wall. (It can take a lot of space.) To write out the ideas, use index cards (3 x 5 or 4 x 6 work best) or self-adhesive note paper. To attach the cards to the surface, use pushpins (on corkboard) or masking tape (on a wall).

Then, follow these steps:
1. At the top of the board, the facilitator puts a topic (e.g., a problem, an opportunity, or a process to be improved).
2. Under the topic, the facilitator and the group put headings (e.g., categories, main directions, general points, primary considerations, or divisions of the organization).
3. The facilitator spreads out on the table markers, cards or paper pads, and pushpins or tape (if necessary).
4. The facilitator instructs the participants to write down their ideas, one per card or note—a statement on the front and, if necessary, an explanation or description on the back.
Then, the facilitator explains that they are to post each idea on the board where it belongs logically.
5. After the participants have posted their ideas, the facilitator leads them in grouping like ideas and reorganizing any ideas as the group finds appropriate.
6. Then the participants fill out the board with ideas and details, as necessary.

The result is a large, visual representation of ideas in a logical structure.