Decision matrix definition
A decision matrix is a simple tool used in decision making to enable the user to choose between several different options available to them. The options are scored against a set of factors important to the decision. The factors themselves are weighted numerically to put them in order of least to most important. A decision is reached by giving a score for each option against each of the factors and then multiplying the score by the weighting. This is done on a grid which can be paper based or built in an .xlsx excel spreadsheet. To save you the time, there is a template in the decision matrix shop for you to download.
Once a matrix is completed, it is easy to quickly change scores and weightings to influence the result. It is most helpful in that it allows a user to think through all options associated with a decision and forces them to assess the relative importance of all the factors involved. This can be done in isolation or as a group where others are affected by the decision. The technique encourages simple decisions to be thought through and systematically analysed helping to avoid those, “I wish I’d thought of that” moments.