What is the FAR matrix?

The FAR matrix is a strategic tool used in project management and decision-making to evaluate and prioritize projects or initiatives based on their feasibility, acceptability, and risk. The acronym stands for Feasibility, Acceptability, and Risk, with each dimension assessed to determine the overall viability of a project. By analyzing these factors, organizations can make informed choices about resource allocation and project selection. The FAR matrix helps ensure that projects align with strategic goals while managing potential downsides.