How do you minimise the risk when building new features?

You might be wondering what features would provide the most value to your users, whether your goal is to increase conversion rates or enhance customer satisfaction. However, you face constraints such as limited resources in terms of budget, time, and manpower. If you have a list of features that you believe should be developed next, how can you effectively prioritise them or select the one feature that users desire the most? Here's one of my favourite tools that I consistently use when deciding the features to work on, and you can apply it to your business today! Prioritisation Matrix Step 1. Collect a list of ideas from user feedback, ideation workshops, or even a list from your stakeholders etc Step 2. Gather developers and user experts, including researchers and UX designers, into a room, vote on the ideas individually and silently. Step 3. Draw a chart to divide your ideas into two axes: Effort (from high to low) on the X-axis and User Value/Pain (from low to high) on the Y-axis. Step 4. Identify the features that fall into the high user value and low development effort quadrant. Step 5. Discuss the outcomes with the team - Do we agree with the outcome? - Are there any features need to be validate with users further - Are there any features can be broken down into smaller features Why do I love it? A. It's based on your previous research work, leveraging user values identified from events in your app, user interviews, feedback, surveys, or even your hunches. B. It helps the team align and agree on a common goal. C. It enables prioritisation of multiple features in one meeting. Even if the most feasible one doesn't work out, you can quickly move on to the next one (or even experiment simultaneously). I also create a template for you to implement today :) https://drive.google.com/file/d/14P8-J0K6VpP8-vyjkWjO1Hpk67735M9F/view?usp=sharing What are your tools to prioritise features?