Tip: The post “Top 10 considerations when buying a house” by Mark Huffman is a helpful checklist to specify the decision criteria.Ī home buying decision matrix could look like this ( Link to Excel Table). Therefore, it is all the more important to know the personal wishes and decision-making criteria. When buying a home much money is involved. Tip: “The Complete Guide To Buying A New Car: What To Look For In A New Car” by Ben DeMeter offers valuable support for defining your car buying decision matrix.Ī car buying decision matrix could look like this ( Link to Excel Table).
But what are now the purchase criteria in order to choose the right car? There are three affordable cars available at the car dealer. The budget is calculated and the maximum price defined. Tip: Do you need help in finding the relevant criteria? The blog posts “ Deciding Whether or Not to Accept a Job Offer” on and “How to decide between two job offers?” by Mark Swartz on monster.ca provide you helpful hints when defining your decision criteria.Ī decision matrix about job offers could look like this ( Link to Excel Table).Ī new car is needed. Therefore, it is all the more important to define and weight the personally relevant criteria. However, making the right choice is not always that easy and can even be burdensome. It’s great to have the possibility to choose between several job opportunities. 1 Example: Making Decisions About Job Offers The following examples show how the decision matrix is helpful and can be used in everyday life. However, when having many criteria, the distribution of exactly 100% can become time-consuming and very tedious since you just can’t get around the adjustment of the values. It is often recommended to assign the weighting of the criteria as percentages and distribute a maximum of 100%. Again, the grading scale can be used for the weighting of the criteria. The value of weighting will then be multiplied by the value of the criteria for each option. In the Weighted Decision Matrix an additional column for the weighting of the individual criterion is added. For example when buying a car, you will weight the importance of the price, the fuel consumption, the engine power etc. In the Weighted Decision Matrix you assign your importance (weights) to all criteria. The Weighted Decision Matrix is a good choice here. Often, however, a more differentiated decision is required since not all criteria have the same importance. The option with the highest value is considered the “Winner” and thus the decision to be made. In the bottom row you enter the total of the values for each option. Now, enter the values below the respective option. For the evaluation choose a common scale as for example the grading scale 1 to 6 or the 10 point scale. Then evaluate the various criteria for each individual option. In practice, it has proven useful to formulate the criteria as succinct keywords. In the Y-axis (vertical line) list all the decision criteria. 2.1 Simple Decision MatrixĮnter all the possible options in the X-axis of the chart (horizontal line). The criteria are then evaluated for each option.
The decision matrix is based on a table / matrix including all the possible options and criteria that may influence your decision. This can be very helpful and make a decision acceptable, especially when several people are involved. The great advantage of a decision matrix is that the decision is made rationally and is comprehensible at a later stage. Possible decision making techniques are the CAF method (Consider All Facts), the PMI method (Plus Minus Interesting), decision making by means of a decision tree or a decision matrix. However, when facing a crucial decision a rational and structured approach to decision making is recommended. You can make decisions based on intuition and gut feelings.
#Decision matrix how to#
Learn here how to make the the right decision using a decision matrix: Thus, we have difficulties in making these decisions. These can be far-reaching decisions requiring great consideration.
#Decision matrix professional#
What am I going to wear today? Shall I take a second cup of coffee? Shall I go by bus or by bicycle to work?īut in professional as well as in private life, there are often important decisions to make which can cause quite some headaches. Make The Right Decision Using A Decision Matrixĭid you know that we make up to 20’000 decisions daily? Most of them are snap decisions we make unconsciously and intuitively.
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