To the right of this column create another column, specifying the weighting (relative importance) of each of the criteria using a common scale, for example, 1 to 5, where 1 is of little importance and 5 is very important. Just as we did in our Simple Decision Matrix above, create a table and in the leftmost column list the criteria against which you wish to evaluate your options.
DECISION MATRIX DOWNLOAD
If you’d like to create your own Weighted Decision Matrix then you can download a template here to help you to get started. The steps to create a Weighted Decision Matrix are shown below, along with an example from the business world. A Weighted Decision Matrix provides a means to overcome this drawback. One of the drawbacks to our Simple Decision Matrix is that not every criterion will have the same importance to us, for example, we may consider reliability to be more important than performance, or we may consider the price to be more important than all the other factors. The criteria you choose to evaluate your options against are entirely up to you, so if practicality wasn’t important to you, you could choose to omit it from the list of evaluation criteria. In the example below, you can see we are trying to determine which car to buy.Īs you can see in this example, Car C is the clear winner. The option with the highest score is our “winner”, and our decision has been made.In the bottom row, we sum all the scores for each option.Choose a way to score each option against the evaluation criteria, for example, we could choose the scale 1 to 5, with 5 being a good score and 1 being a very poor score.List the options available to you across the top row of your table.In the leftmost column of a table, list each of the criteria against which you wish to evaluate your options.To use a Simple Decision Matrix we follow these steps: Whilst Decision Matrix Analysis might sound like a complex term, it is actually a very simple tool to use. The Decision Matrix can help you decide between a number of similar options, but if you’re looking to decide what to work on from your personal list of priorities, then The Eisenhower Matrix will be more appropriate.
DECISION MATRIX HOW TO
Before we jump in and look at how to use the model, it is worth noting that a decision matrices go by a number of other names, including Pugh Matrix, Decision Grid, Opportunity Analysis, Multi-attribute Utility Theory, Grid Analysis, Problem Selection Matrix, Criteria Rating Form, and Problem Selection Matrix.
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