What Is A Weighted Decision Matrix?
Weighted Decision Matrix
The weighted decision matrix allows a rational and structured procedure in the decision-making process. Decision-making based on a weighted decision matrix offers the great advantage that the decision taken is clear and comprensible.
How to use the weighted decision matrix in 4 steps only
- Define the decision options in the x-axis of the matrix (horizontal).
- Enter the decision criteria, which influence your decision, in the y-axis of the matrix (vertical).
- Since the various criteria carry different weights for your decision, each criterion will be weighted in the next step. When creating the weighted decision matrix manually the weighting of all criteria can be in percentage or with a factor. Decision Making Helper allows a weighting from “Low – Importance – High” with a scale of 1 – 5.
Afterwards, the individual criteria will then be rated for each decision option. Decision Making Helper offers here a rating scale from – 5 to +5.
Difference between Weighted Decision Matrix and Simple Decision Matrix
Contrary to the simple decision matrix in the weighted decision matrix the criteria are weighted what allows a more differentiated decision.
When creating a decision matrix manually, the calculation of various criteria for various decision options can quickly become complex and time-consuming. Decision Making Helper allows to save a lot of time as the result / decision is calculated automatically and with different graphics clearly and comprehensibly illustrated.