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Decision Matrix

This Decision Matrix template helps businesses systematically evaluate options by weighing various criteria. It is used to make informed decisions in scenarios such as vendor selection, project prioritization, or strategic planning.

Updated 15d ago
decision-makingevaluationstrategyproject managementvendor selectionbusiness tools

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Document Title

Decision Matrix

Date

Date: {{date}}

Purpose of Decision

The purpose of this decision matrix is to evaluate and select the most suitable option for: {{purpose_of_decision}}.

Options Under Consideration

List of Options:

1. {{option_1_name}}: {{option_1_description}}

2. {{option_2_name}}: {{option_2_description}}

3. {{option_3_name}}: {{option_3_description}}

4. {{option_4_name}}: {{option_4_description}}

5. {{option_5_name}}: {{option_5_description}}

Evaluation Criteria and Weighting

The following criteria will be used to evaluate each option, with assigned weighting (1-5, 5 being most important):

- {{criterion_1_name}}: {{criterion_1_weighting}} (e.g., Cost, Quality, Time, Risk, Strategic Alignment, Resource Availability)

- {{criterion_2_name}}: {{criterion_2_weighting}}

- {{criterion_3_name}}: {{criterion_3_weighting}}

- {{criterion_4_name}}: {{criterion_4_weighting}}

- {{criterion_5_name}}: {{criterion_5_weighting}}

Decision Matrix Table

Instructions: Rate each option against each criterion (1-5, 5 being best). Multiply the rating by the criterion's weighting to get a weighted score. Sum the weighted scores for each option to determine the total score.

| Criterion \ Option | {{option_1_name}} | {{option_2_name}} | {{option_3_name}} | {{option_4_name}} | {{option_5_name}} |

|---|---|---|---|---|---|

| {{criterion_1_name}} (Weight: {{criterion_1_weighting}}) | Rating: {{option_1_criterion_1_rating}} | Rating: {{option_2_criterion_1_rating}} | Rating: {{option_3_criterion_1_rating}} | Rating: {{option_4_criterion_1_rating}} | Rating: {{option_5_criterion_1_rating}} |

| | Weighted Score: {{option_1_criterion_1_weighted_score}} | Weighted Score: {{option_2_criterion_1_weighted_score}} | Weighted Score: {{option_3_criterion_1_weighted_score}} | Weighted Score: {{option_4_criterion_1_weighted_score}} | Weighted Score: {{option_5_criterion_1_weighted_score}} |

| {{criterion_2_name}} (Weight: {{criterion_2_weighting}}) | Rating: {{option_1_criterion_2_rating}} | Rating: {{option_2_criterion_2_rating}} | Rating: {{option_3_criterion_2_rating}} | Rating: {{option_4_criterion_2_rating}} | Rating: {{option_5_criterion_2_rating}} |

| | Weighted Score: {{option_1_criterion_2_weighted_score}} | Weighted Score: {{option_2_criterion_2_weighted_score}} | Weighted Score: {{option_3_criterion_2_weighted_score}} | Weighted Score: {{option_4_criterion_2_weighted_score}} | Weighted Score: {{option_5_criterion_2_weighted_score}} |

| {{criterion_3_name}} (Weight: {{criterion_3_weighting}}) | Rating: {{option_1_criterion_3_rating}} | Rating: {{option_2_criterion_3_rating}} | Rating: {{option_3_criterion_3_rating}} | Rating: {{option_4_criterion_3_rating}} | Rating: {{option_5_criterion_3_rating}} |

| | Weighted Score: {{option_1_criterion_3_weighted_score}} | Weighted Score: {{option_2_criterion_3_weighted_score}} | Weighted Score: {{option_3_criterion_3_weighted_score}} | Weighted Score: {{option_4_criterion_3_weighted_score}} | Weighted Score: {{option_5_criterion_3_weighted_score}} |

| Total Score | {{option_1_total_score}} | {{option_2_total_score}} | {{option_3_total_score}} | {{option_4_total_score}} | {{option_5_total_score}} |

Analysis and Recommendation

Based on the evaluation above, the recommended option is: {{recommended_option}}.

Justification for recommendation: {{justification_for_recommendation}}.

Additional comments or considerations: {{additional_comments}}

Approval

Approved by:

Name: {{approver_name}}

Title: {{approver_title}}

Date: {{approval_date}}

Signature Block

_________________________

{{name}}

{{title}}

{{date}}

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