A decision matrix is the evaluation of different options based on prioritized variables. Think about hiring somebody. You can go with your gut, but the typical best practice is to create a decision matrix to evaluate different candidates against each other. Before you interview, you figure out what the most important dimensions are for the role. Then you put those in a simple spreadsheet with a scoring table so you can rate candidates on each dimension.
The semi-objective evaluation of options in a decision is important in objectively deciding on the right option. I say semi-objective, since most decision matrices have some dimensions that are more subjective than objective. Yet, one of the benefits of decision matrices, if there are multiple people evaluating a subjective dimension, it is quick and easy to see where there isn’t consensus and then those particular dimensions can be further evaluated and debated. Every time
I’ve introduced decision matrices into organizations that didn’t have them there is a marked improvement in the speed, quality, collaboration and alignment of decision-making. They objectify decisions as much as possible, removing the emotions, gut instincts, and politics that often muddle up good decision-making.
To get you going on Decision Matrices, download the free and editable Decision Matrix Excel Worksheet.