Decision Matrix Template

Decision matrix template

What is a decision matrix?

The decision matrix, also called the pugh matrix is a tool used by analysts to make important business decisions. Before completing this decision matrix template you will need to know detailed options and criteria.

Use this decision matrix template to brainstorm your ideas. You can evaluate and rank them.

Why you should use a decision matrix?

Maybe you have too many options to choose from, or you and your colleagues have different opinions. After completing this template, everything will be clear.

How to use the decision matrix template

Step 1

Write down some ideas for which you want to see the advantages and disadvantages.

Step 2

Think about some decision criteria like the examples below:

Internal Capability

Available resources

Alignment with the business objectives

Estimated profit

Estimated Cost

Competitive Advantage

Ease of Execution

Time of Completion

Customer Desire

Matching with existing brand and products

Financial

Partners opinion

Step 3

Type in Pro Arguments and Counterarguments based on this criteria.

Step 4

You can even score for each option, using a number icon from our icons gallery. Calculate the score for Pro arguments and Counterarguments for each idea. Score each option from 0 (poor) to 5 (very good).

You do not need to use a different score for each option. If all of them are good you can score them with 5. If none of them are good you can score all of them with 0.

Step 5

Establish your final decision based on your final scores. Mark the totals and plan a way forward.

If you are working with your colleagues to make a decision, tell them how to proceed. List the options and criteria, then ask them to assign a weight of 1 to 5 for each of them.