Decision Matrix
Objective
To equip staff members with a structured approach to making decisions using a Decision Matrix. This module will explore how to set criteria and scoring methods to objectively evaluate different options and make informed decisions.
Topics Covered:
- Introduction to Decision Matrix
- Setting Criteria
- Scoring Methods
Introduction to Decision Matrix
- What is a Decision Matrix?: A Decision Matrix is a tool used to evaluate and prioritize a list of options, based on a set of criteria you specify.
- Why Use a Decision Matrix?: It provides a systematic approach to decision-making, reducing subjectivity and focusing on objective criteria.
- When to Use a Decision Matrix?: When faced with multiple options and various factors to consider, a Decision Matrix helps in making a choice that is both rational and informed.
Setting Criteria
- Identifying Criteria: Criteria are the factors considered important in the decision-making process.
- Common Criteria in Agency Settings: Cost, time-efficiency, impact, feasibility, and scalability.
- Example:
- Problem: Selecting a project management tool.
- Criteria: Cost, user-friendliness, integration capabilities, and scalability.
Scoring Methods
- How to Score: Assign a numerical value to each option for each criterion, usually on a scale of 1 to 5 or 1 to 10.
- Weighted Scoring: If some criteria are more important than others, assign a weight to each criterion and multiply the score by this weight.
- Calculating the Final Score: Sum up the scores for each option. The option with the highest total score is generally the best choice.
- Example:
- Criteria: Cost (weight 2), user-friendliness (weight 1), integration (weight 1)
- Option 1: Tool A scores 8, 7, 9
- Option 2: Tool B scores 7, 9, 8
- Final Score: Tool A = (8×2) + (7×1) + (9×1) = 32 Tool B = (7×2) + (9×1) + (8×1) = 31
- Result: Tool A is selected.
Summary
The Decision Matrix is a powerful tool for making informed and rational decisions. By setting appropriate criteria and using a scoring method, you can objectively evaluate different options and choose the best one for the company.
