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A decision matrix is a table that evaluates a set of options against a set of criteria. This is used to develop a quantitative scoring for options based on a clear structure that can be communicated and discussed. A decision matrix may be used to make a decision or may be used as one of many decision analysis techniques to model a decision for decision makers. The following are illustrative examples.
House PurchaseA decision matrix may be used to consider a personal decision such as the purchase of a house. This may be weighted by assigning a different maximum score to each criteria.IT VendorThe selection of an IT Vendor by agreeing to a single score for each vendor and criteria using a process of consensus building amongst a committee or team. Criteria may be weighted such that one criteria influences the score more than others. In the example above each vendor is rated with a maximum score of 10 for each criteria. All criteria have an equal weight, except price with a double weight. This means that the price rating is multiplied by two.
Film FestivalA decision matrix may be a summary of the ratings of many individuals. For example, a film festival may hand out score cards to judges and summarize these results in a decision matrix.|
Type | | Definition | A table that evaluates a set of options against a set of criteria. | Related Concepts | |
Decision Making
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