How to Use a Decision Matrix for Project Planning

A decision matrix is an evaluation tool that prioritizes a list of options. The decision matrix can be used for project planning to ensure that good decisions are being made, because each option is being weighted. A decision matrix is often used to narrow down a list of options. Planning your steps for your project can be done by using a decision matrix when planning your next project.

Instructions

Difficulty: Moderately Easy

1. Clearly define what the decision is that you need to make in the project. This should be agreed upon by all team members and written down so you can refer to it often.
2. Create a list of criteria in which you will be using to make your decision. Consider criteria such as costs, benefits and anything else that you are using to make the decision on the project.
3. Discuss the list of criteria further with the purpose of clarifying and reducing the number of criteria. Make sure that all criteria is really needed and the ones that are needed are stated in a clear manner.
4. Assign a weight to each of the criteria by dividing 10 points between the list of criteria. The higher the number you assign to a criteria, the more important you feel criteria is when making the decision.
5. Draw a weighted decision matrix table by listing the criteria in the first column, the weights in the second column and the alternatives in the third column.
6. Weight each row in your decision matrix table by looking at the criteria, weight and alternative by dividing up 10 points again.
7. Calculate the decision matrix by multiplying the weights in the second column and then adding the weights from the rows together. Choose the alternative that has the highest score.