What is Decision Matrix?
Decision Matrix is a tool to evaluate and select the best option among various alternatives. This tool is especially useful if you are deciding between more than one option and there are many factors that you need to consider to make your final decision.
Also called: criteria rating form, criteria-based matrix, decision grid, opportunity analysis, pugh matrix, problem matrix, problem selection matrix, selection matrix or grid, solution matrix,
A decision matrix is known as a priority matrix. It is a framework used to evaluate and prioritize ideas based on a set of predetermined criteria. The decision matrix is basically a simple table with your options and the factors that make up the decision. The goal is to calculate the score for each option based on their factor score. The score will help you make a decision.