Decision making techniques 5: decision matrix

Reference cards

When to use

A decision matrix puts numbers on every aspect of your decision to help you make a balanced decision. It’s a good way to make sure you’ve considered all the important aspects of each option.

Method

1. Use the template below to write down:
2. What decision you want to make
3. All the options you’re considering and
4. All the criteria that are important to the decision
5. Then rank each criteria with how important it is on a scale of 1 (important) to 3 (very important).
6. Then rank how much each options meets the criteria, from 0 (not at all) to 3 (very much).
7. Then multiply the rank with the amount each option met the criteria.
8. Finally add up the score for each option. The option with the highest score meets your decision criteria most fully.

Example

You’re thinking about moving offices. You’re in a co-working space at the moment and you’re company has grown a bit too large. Should you move or stay, and if you move, where?

So, according to your selection criteria, ‘become a distributed company' is the best alternative.