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29 views4 pages

11 Decision+Making+Matrix

Uploaded by

websubscription1130
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Decision Making Matrix

Disclaimer

The content and information contained in this document are the intellectual property of
Apex Hatchers, created for educational and training purposes only. This worksheet is
provided as-is, without warranty of any kind, express or implied, including but not limited
to the warranties of merchantability, fitness for a particular purpose, and
non-infringement. In no event shall the author be liable for any claim, damages, or other
liability, whether in an action of contract, tort, or otherwise, arising from, out of, or in
connection with the worksheet or the use or other dealings in the worksheet.

The recipient agrees not to reproduce, duplicate, modify, sell, resell, or exploit any
portion of the worksheet for any commercial purpose. This worksheet is intended solely
for the personal, noncommercial use of the individual recipient. Unauthorized
reproduction or distribution of this document, or any portion of it, may result in severe
civil and criminal penalties and will be prosecuted to the maximum extent possible under
law.

Apex Hatchers reserves the right to revoke the access privilege and/or take legal action
against any misuse, copyright infringement, or violation of this disclaimer.
What is a Decision Matrix?

A decision matrix is a tool to systematically evaluate and prioritize a list of options


against a set of weighted criteria in order to select the best choice. It provides a visual
representation of the comparative assessment.

How to Create a Decision Matrix?

1. List down all the options to be evaluated as columns


2. Define criteria to assess the options as rows
3. Assign weights to each criteria based on importance (e.g. 1-5)
4. Score how well each option meets the criteria (e.g. 1-5)
5. Multiply scores by weights and total the columns
6. Rank options as per total weighted scores

How can we create a decision matrix?

Here is an example of how to create a decision matrix on a worksheet:

1. Use a table structure in a word document, spreadsheet, canvas, or another tool to


make a grid. This will create the rows and columns needed to map out the options
and criteria.
2. List out all the options being compared as column headers. For example, if
comparing between Job A, Job B, and Job C - make these three columns.
3. Define the decision criteria as row headers. Examples could be salary, location,
work-life balance, etc.
4. Assign relative weights to each criterion in the second row to indicate how
important they are in decision making. Usually weights are allocated on a scale of
1-5 or 1-10.
5. Score each option on how well it delivers on the weighted criterias on a similar 1-5
or 1-10 scale. Higher meets criterion better.
6. In separate columns, multiply scores by the weights to derive weighted scores.
7. Sum or total the weighted scores for each option in a separate column at the end.
8. The option with the highest overall weighted total score indicates the
recommended choice in this quantitative analysis model.

Example

Consider a graduate choosing between job offers from two companies A and B. The
criteria and assessments may be:

Criteria Weight Company A Score Weighted Company B Score Weighted

Salary 5 $68,000 4 20 $73,000 5 25


Package

Work 4 Moderately 3 12 Highly 5 20


Culture collaborative collaborative

Growth 5 Moderate 3 15 Rapid career 4 20


Prospects growth path developmen
t

Work 3 45 hrs/week 4 12 50 hrs/week 2 6


Hours

Commute 3 35 min 4 12 15 min 5 15


Time commute commute

Total - - - 71 - - 86
As per the totals, Company B with the highest weighted score of 86 is the recommended
option over Company A at 71.

Conclusion
Learning for Students - By clearly defining the available options, parameters, weights
and scores in an orderly table, the process of evaluation becomes methodical.
Assumptions have to be made explicit regarding the relative importance of evaluation
dimensions. Trade-offs become evident through the forced prioritization built into
allocating weights. Scoring prompts justification for each rating as alignments are
mapped. Adding up the integrated comparisons acts as a neutral tie-breaker using the
force of numbers rather than just intuition alone.

------------------------------------------- End of Document -------------------------------------------

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