Complex decision making
When you are working with complex project it can be hard to make decisions because you have to consider so many different variables at the same time and when you later realize you were right or wrong you wonder what I thought.
On tool in order to help you make complex decisions and at the same time document your decision making so you can reflect on the decision is the decision matrix. A decision matrix is a list of values in rows and columns that helps you to identify and analyze the performance and relationships between a set of values and information. Elements of a decision matrix show decisions based on certain decision criteria. On the rows you put the different alternative and on the columns different criteria’s. Then you weight how well each criteria feels on each alternative. After that is done you weight each criterion to see how heavy they shall be.
|Cost||Flexibility||Guaranties||Supported by 3-part products|
|Alternative 1||0 (expensive)||3||3||2||0*3+3*3+3*1+2*3 = 18|
|Alternative 2||3 (free)||1||1||3||3*3+1*3+1*1+3*3 = 22|
|Alternative 3||2||1||1||1||2*3 + 1*3 + 1*1 + 1* 3 = 13|
|Value / weight||3 (important)||3 (important)||1 (good to have)||3 important|
Alternative 2 is what we know right now and value in this situation the best choice. If you later learn that you over estimated the value of some criteria you can go back and see how that changes you outcome.