P2 tech description
- 1. Matrix Components: • Options: The design matrix takes all the options being weighed, and puts them into a column. o Ex: Deciding between different designs, shoes, outfits, houses, schools, actions, etc. • Factors of Consideration: The things you are considering in your decision is put in at the top. o Some examples are color, cost, durability, weight, size, etc. o You can have as many factors as you’d like. • Weights: Each factor is given a weight (0-5) to represent relative importance. o 0 being the least important and 5 being the most important. You may also have multiple factors of the same importance. o If factor 1 (house location) is more important than factor 2 (the cost of the house), then factor 1 may have a weight of 4 while factor 2 has a weight of 2. • Scores: Each option is given a score (0-5) based on how well it meets each factor. o If Option 1 is expensive while option 2 has a great price, Option 1 will have a lower score than option 2. o Score inputs are determined by the user based on their wants, needs, and opinions. Factor 1 Weight=4 Factor 2 Weight=2 Factor 3 Weight=5 Factor 4 Weight=5 Total Score Option 1 2 1 5 1 40 Option 2 5 5 4 3 65 Option 3 2 2 5 3 52 Option 4 5 4 2 1 43 How it works! The Decision Matrix The decision matrix works like an equation solver. It takes inputs and weights and spits out numbers that represent the quality of a given option or decision. Decision matrices are most useful when dealing with a tough decision or when there are many factors to consider. • Totals: The final scores of each option is calculated using the matrix, and the highest score denotes the best decision. o The score is the sum of each options score multiplied by its corresponding factor weight. o In the example above the total score for Option 1 = 2(4)+1(2)+5(5)+1(5)=40, Option 2 = 5(4)+5(2)+4(5)+3(5)=65, Option 3 = 2(4)+2(2)+5(5)+3(5)=52, Option 4 = 5(4)+4(2)+2(5)+1(5)=43. As you can see, for this example, option 2 will be the best option. Instead of going with a ‘gut feeling’, the decision matrix shows you with numbers and makes it explicitly clear which option is the best. You can feel good about your decision knowing that you are considering all your options, all the factors, and the relative importance of each. Matrix Organization