Decision Matrix - Revision history

User at 22:29, 1 December 2022

2022-12-01T22:29:06Z

User at 20:14, 18 February 2021

2021-02-18T20:14:10Z

User at 20:11, 18 February 2021

2021-02-18T20:11:47Z

User: Created page with "'''Content Coming Soon'''"

2018-12-20T01:54:42Z

Created page with "'''Content Coming Soon'''"

New page

'''Content Coming Soon'''

@@ Line 1: / Line 1: @@
-A '''Decision Matrix''' evaluates and prioritizes a list of options and is a [[Decision Making|decision-making]] tool. The team first establishes a list of weighted criteria and then evaluates each option against those criteria. This is a variation of the L-shaped matrix.<ref>Definition - What is the Decision Matrix [https://asq.org/quality-resources/decision-matrix#:~:text=A%20decision%20matrix%20evaluates%20and,each%20option%20against%20those%20criteria. Asq]</ref>
+A '''Decision Matrix''' evaluates and prioritizes a list of options and is a decision-making tool. The team first establishes a list of weighted criteria and then evaluates each option against those criteria. This is a variation of the L-shaped matrix.<ref>[https://asq.org/quality-resources/decision-matrix#:~:text=A%20decision%20matrix%20evaluates%20and,each%20option%20against%20those%20criteria. Definition - What is the Decision Matrix]</ref>
-== When to use a decision matrix (and when not to)<ref>When to use a decision matrix (and when not to) [https://www.businessnewsdaily.com/6146-decision-matrix.html Business News Daily]</ref> ==
+== When to use a decision matrix (and when not to)<ref>[https://www.businessnewsdaily.com/6146-decision-matrix.html When to use a decision matrix (and when not to)]</ref> ==
-A decision matrix can help you not only make complex decisions, but also prioritize tasks, solve problems and craft arguments to defend a decision you've already made. It is an ideal decision-making tool if you are debating between a few comparable solutions that each have multiple quantitative criteria. Steve Kurniawan, content specialist and growth strategist at Nine Peaks Media, said there is a sweet spot for the number of variables each solution should have.
+A decision matrix can help you not only make complex decisions but also prioritize tasks, solve problems, and craft arguments to defend a decision you've already made. It is an ideal decision-making tool if you are debating between a few comparable solutions that each have multiple quantitative criteria. Steve Kurniawan, the content specialist and growth strategist at Nine Peaks Media, said there is a sweet spot for the number of variables each solution should have.
 "When there are only two possible solutions that don't involve too many variables, it's better to use other decision-making tools," he said. "On the other hand, if there are too many variables involved, the matrix can be very complex. In general, three to eight is the proper number [of variables] where a decision matrix is viable."
-The decision matrix process is best used when you're deciding on something that does not require a sense of emotion, as it is a logical tool in nature. For example, the matrix is not great when choices are purely a matter of taste or style as it removes the layer of intuition that is sometimes an essential factor. "The [matrix] does remove some of the gut feelings that are often indicative of strong intuitions and can sometimes point to something valuable."
+The decision matrix process is best used when you're deciding on something that does not require a sense of emotion, as it is a logical tool in nature. For example, the matrix is not great when choices are purely a matter of taste or style as it removes the layer of intuition that is sometimes an essential factor. "The matrix does remove some of the gut feelings that are often indicative of strong intuitions and can sometimes point to something valuable."
-It's best to use a decision matrix when you need to assess a situation from a logical viewpoint and have enough comparable variables to make a weighted analysis. The matrix can be used on its own, or in tandem with other decision-making tools and techniques if you are deciding on a solution that has less distinct options. For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, a decision matrix can be a useful component, but one is advised against relying solely on it.
+It's best to use a decision matrix when you need to assess a situation from a logical viewpoint and have enough comparable variables to make a weighted analysis. The matrix can be used on its own, or in tandem with other decision-making tools and techniques if you are deciding on a solution that has fewer distinct options. For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, a decision matrix can be a useful component, but one is advised against relying solely on it.

← Older revision		Revision as of 20:14, 18 February 2021
Line 1:		Line 1:
−	A '''Decision Matrix''' evaluates and prioritizes a list of options and is a [[Decision Making\|decision-making]] tool. The team first establishes a list of weighted criteria and then evaluates each option against those criteria. This is a variation of the L-shaped matrix.<ref>Definition - What is the Decision Matrix]</ref>	+	A '''Decision Matrix''' evaluates and prioritizes a list of options and is a [[Decision Making\|decision-making]] tool. The team first establishes a list of weighted criteria and then evaluates each option against those criteria. This is a variation of the L-shaped matrix.<ref>Definition - What is the Decision Matrix [https://asq.org/quality-resources/decision-matrix#:~:text=A%20decision%20matrix%20evaluates%20and,each%20option%20against%20those%20criteria. Asq]</ref>


Line 10:		Line 10:

	It's best to use a decision matrix when you need to assess a situation from a logical viewpoint and have enough comparable variables to make a weighted analysis. The matrix can be used on its own, or in tandem with other decision-making tools and techniques if you are deciding on a solution that has less distinct options. For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, a decision matrix can be a useful component, but one is advised against relying solely on it.		It's best to use a decision matrix when you need to assess a situation from a logical viewpoint and have enough comparable variables to make a weighted analysis. The matrix can be used on its own, or in tandem with other decision-making tools and techniques if you are deciding on a solution that has less distinct options. For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, a decision matrix can be a useful component, but one is advised against relying solely on it.
		+
		+
		+	===See Also===
		+	[[Decision Making]]<br />
		+	[[Decision Engineering]]<br />
		+	[[Decision Model]]<br />
		+	[[Decision Theory]]<br />
		+	[[Decision Tree]]<br />
		+
		+
		+	===References===
		+	<references/>

← Older revision		Revision as of 20:11, 18 February 2021
Line 1:		Line 1:
−	'''~~Content Coming Soon~~'''	+	A '''Decision Matrix''' evaluates and prioritizes a list of options and is a [[Decision Making\|decision-making]] tool. The team first establishes a list of weighted criteria and then evaluates each option against those criteria. This is a variation of the L-shaped matrix.<ref>Definition - What is the Decision Matrix]</ref>
		+
		+
		+	== When to use a decision matrix (and when not to)<ref>When to use a decision matrix (and when not to) [https://www.businessnewsdaily.com/6146-decision-matrix.html Business News Daily]</ref> ==
		+	A decision matrix can help you not only make complex decisions, but also prioritize tasks, solve problems and craft arguments to defend a decision you've already made. It is an ideal decision-making tool if you are debating between a few comparable solutions that each have multiple quantitative criteria. Steve Kurniawan, content specialist and growth strategist at Nine Peaks Media, said there is a sweet spot for the number of variables each solution should have.
		+
		+	"When there are only two possible solutions that don't involve too many variables, it's better to use other decision-making tools," he said. "On the other hand, if there are too many variables involved, the matrix can be very complex. In general, three to eight is the proper number [of variables] where a decision matrix is viable."
		+
		+	The decision matrix process is best used when you're deciding on something that does not require a sense of emotion, as it is a logical tool in nature. For example, the matrix is not great when choices are purely a matter of taste or style as it removes the layer of intuition that is sometimes an essential factor. "The [matrix] does remove some of the gut feelings that are often indicative of strong intuitions and can sometimes point to something valuable."
		+
		+	It's best to use a decision matrix when you need to assess a situation from a logical viewpoint and have enough comparable variables to make a weighted analysis. The matrix can be used on its own, or in tandem with other decision-making tools and techniques if you are deciding on a solution that has less distinct options. For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, a decision matrix can be a useful component, but one is advised against relying solely on it.