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    Dorval, QC H9P 1J1
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    Montréal, QC H4N 1H2
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    Montréal, QC H4G 1T9
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    Montréal, QC H3A 1E4
    514 879-0555
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    Montréal, QC H2S 2M2
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    Montréal, QC H1E 2Z6
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How to create a decision matrix

You have to make an important decision as a CEO, but you’re faced with multiple options. Create your own decision matrix, an evaluation grid that will allow you to analyze all the possibilities and make a thoughtful choice to ensure your organization’s viability.

6 easy steps

1. Options

If you want to use a decision matrix, this means your company is at a crossroads and you’re examining several possibilities. The purpose of this first step is to determine all the options to consider.

For example, you’re planning to open a satellite office in the United States, but you’re trying to choose among several States. You are considering three that are especially dynamic: California, Florida and Texas.

2. Criteria

Once you’ve identified all the options, you must determine some key criteria to distinguish each of them. In other words, what are the most important factors in your analysis that will have an impact on your company’s success?

For example, to choose the State where you will establish a satellite office, you could adopt the following criteria: the number of potential customers, the average rent for commercial premises, or the workforce’s average level of education.

3. Weighting

Now that you’ve decided on your key criteria, the time has come to determine the importance of each one by assigning percentages. Why? Because you don’t give each criterion the same weight. You must therefore analyze them subjectively according to the company’s reality.

For example, in this project to inaugurate a satellite office in the United States, you might decide that the number of potential customers is the main criterion and assign it a weighting of 50%. The rent for commercial space would rank second and be weighted at 30%. The remaining 20% would go to the workforce’s average level of education.

Attention! Make sure that the weightings of your criteria add up to 100%.

4. Searching for data

This step documents the options considered. You must find reliable and objective data for each of the chosen criteria.

For example, by opening a point of service in the United States, you want to expand your clientele, which is composed essentially of law firms. You then will want to know how many law firms are established in each of the three preselected States. During a search, you will discover that California has 56,550. There are 43,065 law firms in Florida and 33,930 in Texas.

5. Scoring

Once you have collected data, you may assign a score to each option considered. This evaluation must be done for each criterion you defined.

Concretely, if you study three options, we recommend you assign a score of 3 to the best option and a score of 1 to the least satisfactory option.

For example, based on the number of law offices established in each State, California would obtain a score of 3, Florida 2 and Texas 1.

6. Calculating the results

You’re now at the step where the Excel spreadsheet does the job for you. It will multiply the weighting of each criterion by the score you assigned to each option.

For example, based on the number of law offices found in each preselected State, California will obtain a result of 1.5 (3 x 50%), Florida 1 (2 x 50%) and Texas 0.5 (1 x 50%). 

Finally, Excel will calculate the sum of the results for each option. This will give you a quick and objective idea of the option that best suits your company.

Download tool here →

Find experts in your area

Enter your business postal code or select your area

  1. West-Island 1675, Transcanadienne
    Suite 301
    Dorval, QC H9P 1J1
    514 426-2888
  2. Centre-Ouest 1350 Mazurette street
    Suite 400
    Montréal, QC H4N 1H2
    514 858-1018
  3. Grand Sud-Ouest 3617 rue Wellington
    Montréal, QC H4G 1T9
    514 765-7060
  4. Centre-Ville 630, Sherbrooke Ouest
    Suite 700
    Montréal, QC H3A 1E4
    514 879-0555
  5. Centre-Est 6224 rue Saint-Hubert
    Montréal, QC H2S 2M2
    514 723-0030
  6. Est-de-l'Île 7305, boulevard Henri-Bourassa Est
    Suite 200
    Montréal, QC H1E 2Z6
    514 494-2606