Introduction To Weighted Decision Matrix | Help Make The Right Decision

A key aspect of organisational success is good decision-making. It’s the factor that has the biggest impact on the bottom line of any business and can make or break the company.

In some cases, making the right decision is fairly simple and the choice between different options is clear. However, more often than not, the process of making a decision is highly complex and involves multiple criteria that have to be taken into consideration before deciding one way or the other. 

Also, to keep up with the good practices of business planning, a decision has to be made relatively quickly, as spending too much time pondering which way to go may mean that the opportunity that was there is now long gone. At the same time, it’s necessary to extensively evaluate all the choices, as that is a prerequisite for making an informed decision that will have a positive impact.

Obviously, all this makes the process rather tricky and complicated. It will rarely be as easy as making a simple pros and cons list and basing your decision on it. The main reason for this is that factors you have to take into account usually carry different levels of significance, meaning that some are more important than others. 

So, it’s necessary to find an objective and quantifiable way to do these important decisions, while still being efficient and expeditious. Arguably, the most reliable instrument you can use to make all kinds of complex decisions is the Weighted Decision Matrix.