WordPress Dashboard organize posts based on categories

you could use restrict_manage_posts to add a dropdown field to the admin bar. however this code needs refining, because terms are not presented hierarchical atm.

add_action( 'restrict_manage_posts', 'my_restrict_manage_posts' );
function my_restrict_manage_posts() {
    global $typenow;
    $taxonomy = 'your_taxonomy_name';
    if( $typenow != "page" && $typenow != "post" ){
        $filters = array($taxonomy);
        foreach ($filters as $tax_slug) {
            $tax_obj = get_taxonomy($tax_slug);
            $tax_name = $tax_obj->labels->name;
            $terms = get_terms( $tax_slug, array( 'hide_empty' => false ) );
            echo "<select name="$tax_slug" id='$tax_slug' class="postform">";
            echo "<option value="">Show All $tax_name</option>";
            foreach ( $terms as $term ) { 
                if ( isset( $_GET[ $tax_slug ] ) ) {
                    $get_tax_slug = $_GET[ $tax_slug ];
                } else {
                    $get_tax_slug = false;
                }
                echo '<option value=" 
                    . $term->slug, $get_tax_slug == $term->slug ? " selected="selected"' : '','>' 
                    . ( (int) $term->parent > 0 ? '- ' : '' ) . $term->name . '</option>'; 
            }
            echo "</select>";
        }
    }
}

Further research: 1, 2