My process is somewhat similar to Adam's description in the Fan Post Prompt.
I don't follow minor leagues or Rule 4 Draft closely beyond Purple Row articles by the staff/related reader comments. I avoid current DSL prospects until established stateside (mostly due to time constraints, but also due to discounting the future value of prospects who are frequently well under age 18).
The most recent final Purple Row PuRPs List is my starting point. In my first few years, I leaned too heavily on borrowing from PrRPs lists submitted by others to fill in gaps/re-order, but my lists started to excessively mimic some of the sharp minds on this forum. On recent lists, I've used RockiesRoster.com to fill in gaps/re-order.
I don't have a strong system for "weighting" the variables. Rather, it is a somewhat random mix of "age to level", draft pedigree/large DSL bonuses that I can remember (e.g. Daniel Montano). Probably a slight lean towards "high floor" for prospects close to MLB, and "high ceiling" for prospects far away (in other words, a limited "present value" approach, but am probably not very consistent with those "leans").
My ballots that tend to capture most of the names on the final PuRPs list. But, I've badly mis-ranked some of the newer names compared to the group consensus (e.g. I didn't give Rollison/Lavigne enough credit last summer). And I'm too reluctant to "abandon ship" on prospects losing their luster (or whose luster was always limited, objectively).
I always find it enjoyable to try to match wits with the talented staff and readers who create a consistently interesting and informative final PR PuRPs List. The "wisdom of crowds" at work.