![]() ![]() To change the weighting of a factor in the decision matrix, use a selection wheel to enter your subjective percentage of importance. Customer reviews are also important as they give you an indication of how effective each agency has been in the past. To continue our example, imagine that there is no way you can go over your budget, so cost is a crucial factor in your decision-making process. In such a case, use the weighted factors in the decision matrix to determine the best option for you. Sometimes there are certain considerations that are more important than others. Staying with our example, you have decided that the most important criteria when selecting a contractor are the following: Cost, experience, quality and previous customer reviews. These criteria will help you find the best decision and avoid subjectivity. The second step in creating a decision matrix is to identify the important considerations that will play a role in your decision. ![]() Right now, you have identified three companies, each with its advantages and disadvantages. You need to decide on a contract manufacturer to make the components of your product. Before you can create your matrix, you need to identify the options you need to decide between.įor example, let us say you are introducing a new production chain. The decision matrix is a helpful tool for selecting the best option from a set of similar options. Creating a decision matrix consists of three easy decision making steps: Use a decision matrix for this task: compare multiple similar options, narrow down different options to a final decision, weigh a variety of important factors, and hope you approach the decision from a logical standpoint rather than an emotional or intuitive standpoint.Ī decision matrix can help you determine the best option among several possibilities based on several important factors and their relative importance. Some other names for decision matrix are: Pugh matrix, grid analysis, multi-attribute utility theory, problem selection matrix, decision grid. You may have heard other names for a decision matrix - even though they all mean the same thing - easy decision maker. This tool is especially useful when you are deciding between multiple options and need to consider multiple factors to make your final decision. The decision matrix is an easy decision maker for evaluating and selecting the best option between different possibilities. Enter the values for your criteria with a quick to draw circle and get a precisely selected option in seconds. The decision matrix is an agile and simple decision tool. ![]()
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