“Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work.” – H.L. Hunt


 

Shelley Brown

A decision matrix allows a team or individual to systematically identify, analyze, and rate the strength of relationships between sets of information. The matrix is especially useful for looking at a number of decision factors and assessing each factor’s relative importance.

  1. Establish the overall goal or desired outcome with expected timeline
  2. Gather all pertinent information
  3. Itemize available resources (financial and human)
  4. Gather competitive intelligence
  5. Identify alternatives
  6. Identify decision / selection criteria
  7. Assign weighting to the criteria to establish priority of the elements
  8. Design scoring system
  9. Rate the alternatives
  10. Identify risk factors associated with top ranked selection
  11. Select mitigation strategy for risks with a high probability
  12. Establish action plan to move forward with selected strategy

A decision matrix is frequently used during planning activities to select product/service features and goals and to develop process steps and weigh alternatives.

Some criterion might be:

  • Potential impact on company performance
  • Alignment with corporate strategy
  • Support of future product launches or service offerings
  • Ease to implement
  • Benefit-Cost Relationship or Return on Investment
  • Budget constraints
  • Speed of implementation
  • Acceptance by employees
  • Impact on environment
  • Health and safety issues

 

Often a leader needs an objective sounding board when making sensitive business decisions, especially if they effect organizational structure, teams or even individual employees. Bromelin has a number of trained coaches that can provide an outside perspective and help ask the right questions to test the quality of your thought process and decision making. If you would like a sample session, call us – we can help.

Sincerely,
Shelley Brown
Bromelin People Practices
514-428-8877