You can place them in the first row in your matrix. These options represent the various choices available. The first step to creating your decision matrix is deciding the list of options. Another advantage of this method is that sensitivity studies can be performed. To create greater awareness of the process and transparency regarding how decisions are made at the UNC Eshelman School of Pharmacy. Here is a step-by-step approach to help you create and use your matrix: 1. The advantage of the weighted decision matrix is that subjective opinions about one alternative versus another can be made more objective. Each of the potential options is scored and then multiplied by the weighting given to each of the criteria to produce a result. Using the Eisenhower matrix, you divide your responsibilities into these four different categories: Urgent and important: You may work on these tasks immediately.
Related: The Covey Time Management Matrix Explained. The more important a criterion, the higher the weighting it should be given. The Eisenhower matrix later became a common decision-making tool. Step 2: Create a Pair-wise Comparison Matrix of the Criteria Selected. The resultant scores better reflect the importance to the decision maker of the criteria involved. 1 day ago &0183 &32 Step 1: Identify the Objective, Criteria, and Alternatives. Importantly, it is not weighted to allow a quick selection process.Ī weighted decision matrix operates in the same way as the basic decision matrix but introduces the concept of weighting the criteria in order of importance. To select the best option, we can use tools such as a weighted decision matrix.Ī basic decision matrix consists of establishing a set of criteria for options that are scored and summed to gain a total score that can then be ranked. Sometimes we have multiple options to choose from when determining requirements and deciding which project to work on. Figure 4-2 Comparing Options Using a Weighted Decision Matrix This method is especially useful when choosing purchase alternatives and comparing them against specific desirable system requirements. The example in Figure 4.2 shows a weighted decision matrix that compared three options for a web development project (SJS Enterprises). On the other axis, a list of criteria, which are weighted depending on their respective importance in the final decision to be taken. A weighted decision matrix is a decision tool used by decision makers.Ī decision matrix is basically an array presenting on one axis a list of alternatives, also called options or solutions.
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