The CLs have been working on a model for how the Foundation can prioritize projects. It is much more specific to Foundation processes and to "product" orientation than the very limited notes I sketched out before. We could use it as a starting point to build out TPG's model, which could be helpful in the broader SPDPP process discussion.
https://www.mediawiki.org/wiki/Community_Tech_team/All_Our_Ideas/Process#Analysis_and_prioritization