DECISION MATRIX HOW TO

Before you can build your matrix, identify the options you’re deciding between.įor example, let’s say your team is launching a new brand campaign this summer. Identify your alternativesĭecision matrices are a helpful tool to decide the best option between a set of similar choices. There are seven steps to creating a decision matrix: 1.

DECISION MATRIX HOW TO

Read: Priority matrix: How to identify what matters and get more done How to create a decision matrix in 7 stepsĪ decision matrix can help you evaluate the best option between different choices, based on several important factors and their relative importance. If a decision matrix isn’t right for your current situation, learn about other decision-making approaches below. Hoping to approach the decision from a logical viewpoint, instead of an emotional or intuitive one Narrowing down various options into one final decision For example, a decision matrix won’t help you decide what direction your team should take for the next year because the things you’re deciding between aren’t comparable. If the evaluation criteria aren’t the same between your different choices, then a decision matrix likely isn’t the best decision-making tool. This process is powerful-and relatively easy-but it’s most effective when you’re deciding between several comparable options. You don’t always need to use a decision matrix. Some other names for decision matrix include: You may have heard a decision matrix called by another term-even though they’re all talking about the same thing. This tool is particularly useful if you are deciding between more than one option and there are several factors you need to consider in order to make your final decision.

What is a decision matrix?Ī decision matrix is a tool to evaluate and select the best option between different choices. With a decision matrix, you can quickly address the pros and cons of each option, weigh different variables, and make a good decision quickly and easily. If this sounds like an impossible conundrum, don’t worry-it isn’t. The key is making a quick decision without being hasty, and making the right decision without losing velocity. Making good decisions can help you steer your team in the right direction and hit your goals-but how do you know which decision is the right one? When faced with two seemingly equal choices, do you flip a coin? Roll the dice? Ask a Magic 8-Ball for help?ĭecision-making is a critical part of good business planning-but it can be tricky to know which option is the right one.

Decision matrix