Problem Solving Matrix

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You can get a whiteboard or piece of paper and freehand your weighted decision matrix, but several websites have templates.Running a business poses many challenges that require you to make many important decisions.Making those decisions can be as simple as weighing a pros and cons list; however, sometimes they require a more thorough decision-making process, like a decision matrix.Once you have identified these aspects, you can create your analysis with rows and columns.List your decision alternatives as rows, and the relevant factors affecting the decisions – such as cost, ease and effectiveness – as the columns.For example, if you are looking at pain points, be sure to word each issue so that it gets more points the worse it is, and vice versa when looking at benefits.Multiply your original ratings by the weighted rankings to get a score, then add up all the factors under each option.For example, if you are choosing courses of action in business strategy or deciding between scenarios for a long-term career plan, Devero said a decision matrix can be a useful component, but she advised against relying solely on it.When creating a decision matrix, Kurniawan said, it is important to start by understanding the problem and its implications.She listed the factors she finds important and assigned weights that reflect how important she considers each set of criteria to be.Rent is a factor, but she's decided that market share, which determines how likely she is to get customers, is the most important issue.

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