7 Quick Steps to Create a Decision Matrix with Examples [2023] • Asana (2023)

Decisions, decisions, decisions. Making good decisions can help steer your team in the right direction and achieve your goals, but how do you know which decision is the right one? When faced with two seemingly identical options, will you toss a coin? throw the dice? Ask Magic 8-Ball for help?

Decision making is a fundamental part of good business planning, but knowing which option is the right one can be difficult. The key is to make a quick decision without rushing and make the right decision without losing speed.

If this sounds like an impossible riddle, don't worry, it's not. With a decision matrix, you can quickly review the pros and cons of each option, weigh different variables, andmake a good decisionfast and easy.

What is a decision matrix?

A decision matrix is ​​a tool to evaluate and select the best option among different options. This tool is especially useful when deciding between more than one option and there are multiple factors to consider in your final decision.

You may have heard a decision matrix with a different term even though they are talking about the same thing. Some other names for the decision matrix are:

• Matriz Pugh

• lattice analysis

• Multi-Attribut-Utility-Theorie

• Problemauswahlmatrix

• decision grid

Create an Eisenhower matrix model

When should a decision matrix be used?

It is not always necessary to use a decision matrix. This process is powerful and relatively simple, but it's most effective when you're deciding between several comparable options. If the evaluation criteria are not the same between your different options, a decision matrix is ​​probably not the best decision tool. For example, a decision matrix won't help you decide which path you want your team to take in the next year because the things you're deciding aren't comparable.

Use a decision matrix if you:

• Compare several similar options

• Narrowing multiple options down to a final decision

• Weighing a variety of important factors

• Hoping to approach the decision from a logical rather than an emotional or intuitive standpoint

  See Also

  Messaging Matrix: Keep Brand Messages Aligned (Template)2.5: Application of matrices in cryptography2.5: Applying fixes in cryptographyExamples of message arrays

If a decision matrix isn't appropriate for your current situation, learn about other decision-making approaches below.

How to create a decision matrix in 7 steps

A decision matrix can help you evaluate the best option among various options based on several key factors and their relative importance. There are seven steps to creating a decision matrix:

1. Identify your alternatives

Decision matrices are a useful tool for finding the best option from a set of similar options. Before creating your matrix, identify the options you are deciding between.

Say your team launches a new branding campaign this summer. You need to choose a vendor who will create the images and videos for the design. At this point you've identified three design agencies, although each has its pros and cons.

2. Identify key considerations

The second step in building a decision matrix is ​​to identify the important considerations that influence your decision. This set of criteria will help you make the best decision and avoid subjectivity.

Continuing with our example, your team decided that the most important criteria when choosing a design agency are: cost, experience, communication, and reviews from previous clients.

3. Create your decision matrix

A decision matrix is ​​a grid that allows you to compare key considerations between different options.

Of course, we build our decision matrices in Asana. asana is onework management toolThis can help you organize and execute work across your organization and provide the clarity teams need to achieve their goals faster.

For example, here's the skeleton of your decision matrix in Asana when deciding between three agencies and considering cost, experience, communication, and customer feedback:

4. Complete your decision matrix

Now rate each consideration on a given scale. If there aren't big differences between the options, use a scale of 1 to 3, with 3 being best. For more options, use a scale of 1 to 5, with 5 being best.

This is where the benefits of a decision matrix really start to shine. For example, let's say you're deciding between three agencies and you have four important criteria, but you don't create a decision matrix. See how each agency performs:

• Agency 1 is very cheap but they don't have much experience. Your communication and customer reviews seem normal.

• Agency 2 is not exactly cheap, but it is not the most expensive agency either. They have good experiences and great customer reviews, but their communication has been a bit lacking so far.

• Agency 3 is the most expensive but also the most experienced. Their communication has been average so far and their customer ratings are pretty good.

These three descriptions are relatively similar - it's hard to decide which one is best based on a short paragraph, especially since each agency has its own pros and cons. Alternatively, see how the three agencies and their four considerations appear in a decision matrix when ranked from 1 to 5, with five being the best:

5. Add weight

Sometimes there are certain considerations that are more important than others. In this case, use a weighted decision matrix to determine the best option for you.

To continue our example, imagine that you absolutely cannot go over your budget, so cost is a critical factor in your decision-making process. Customer reviews are also important as they give a basic idea of ​​each agency's past effectiveness.

To add weight to a decision matrix, assign each consideration a number (between 1-3 or 1-5 depending on how many options you have). Later in the decision-making process, you multiply the weighting factor for each consideration.

This is how it looks in our example:

6. Multiply the weighted score

After applying your rating scale and assigning a weight to each consideration, multiply the weight by each consideration. This ensures that the most important considerations carry the most weight, ultimately helping you in selecting the best agency.

To continue our example, if you apply the weighted scores to each consideration for each agency, it looks like this:

7. Calculate the total score

Now that you've multiplied the weighted score, add up all the considerations for each agency. At this point, you should have a clear, number-based answer as to which decision is the best.

For example, the final decision matrix looks like this:

As you can see, agency 2 has the highest score, so you should choose this agency. While Agency 1 was cheaper, Agency 2's average cost combined with their years of experience and excellent client reviews make them the best choice for your team. It remains to contact the agency and proceed with the branding campaign.

Example of a decision matrix

You can use decision matrices for a variety of business decisions as long as you evaluate the best option among different options. These decisions do not always have to be business-critical. You can also use this template to quickly make a simple decision.

For example, create a decision matrix to decide which chair to buy for your home office. He likes four different chairs, and important considerations are comfort, cost, and ratings.

alternatives for decision-making

If the decision matrix method doesn't work for your selection, try the following:

Eisenhower-Matrix

LikeEisenhower-MatrixIt's a 2x2 grid to help you prioritize tasks based on urgency and importance. This matrix is ​​useful when you are dealing with a large number of different tasks and need to decide which tasks or initiatives to work on first.

• In the upper left corner, list urgent and important jobs:These tasks have the highest priority. Do them now or as soon as possible.

  (Video) How To Create A Risk Register In Asana - & The Template You Need!

• In the top right corner, list less urgent but important jobs:To make sure you complete these tasks, schedule them on your calendar or write the due date on aproject management tool.

• In the lower left corner, list urgent and non-essential jobs:These tasks need to be done, but there's probably a better person out there for the job. If possible, delegate this work.

• Below right, list the less urgent and non-essential jobs:Postpone these tasks or don't do them. Clarify your priorities and let team members know you can't work on something right nowreduce burnout.

Create an Eisenhower matrix model

Stakeholder Analysis Map and RACI Chart

One of the most important decisions you need to make during the project planning process is deciding which stakeholders to engage, consult, or report on. Create one for this decisionStakeholder Analysis Map. This map helps categorize stakeholders based on their relative influence and interest.

There are four categories in a stakeholder analysis map:

• High influence and interest:Engage these stakeholders in theproject planningand decision-making process.

• High influence and low interest:Inform these stakeholders about the project and monitor their interest if they want to get more involved.

• Low impact and high interest:Keep these stakeholders informed about the project. Add them to yoursProject Status Updatesso that you stay informed.

• Low influence and low interest:Communicate with these stakeholders at regular checkpoints, but don't worry too much about keeping them in the loop.

Once you have identified your key stakeholders, you can create one tooRACI-Charter. RACI is an acronym that stands for Accountable, Accountable, Consulted and Informed. RACI charts can help you decide who is most accountable for each task or initiative.

Team brainstorming session

Sometimes the best way to make a decision is with some good old-fashioned team brainstorming. Hold a brainstorming session or exchange ideas in a project management tool.

At Asana, we like to useKanban-Boxenfor dynamic brainstorming sessions. To begin, the brainstorming facilitator creates a board where team members can add ideas, thoughts, or comments. After everyone has added their ideas, each team member reviews and likes each suggestion. The team then discusses the most popular tasks as a group to decide how to proceed.

Say goodbye to tossing coins for decision making

Making quick decisions is an important part of good planning andproject management. Whether you're using a decision matrix to make a simple or complex decision, these tools can help you consider different factors and make the best decision for your team.

Create an Eisenhower matrix model