Link: https://theknowledgeeconomy.wordpress.com/2023/02/07/decision-matrix/
A decision matrix is a tool that can be used to help evaluate options in the decision making process. It involves creating a grid or table that lists the options being considered along one axis and the criteria that are important in making the decision along the other axis.
Each option is then evaluated based on the criteria, and the results are recorded in the matrix. The options can then be ranked based on their total score, with the highest-scoring option being the most favorable.
Here is an example of a decision matrix:
| Option | Criteria 1 | Criteria 2 | Criteria 3 | Total Score |
|---|---|---|---|---|
| Option 1 | 3 | 2 | 4 | 9 |
| Option 2 | 4 | 3 | 3 | 10 |
| Option 3 | 2 | 4 | 2 | 8 |
In this example, the decision matrix is being used to evaluate three options based on three criteria. Option 2 has the highest total score, so it may be considered the most favorable option.
Decision matrices can be useful for helping to organisie and evaluate information in a structured way and to make more informed and balanced decisions.
