Decision Matrix

The Decision Matrix is a tool used to make decisions by evaluating options based on criteria. It is a 2x2 matrix with four quadrants, each representing a different outcome.

At a very high level, the Decision Matrix is used in the context of business, decision making.

Decision Matrix quadrant descriptions, including examples
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What is the Decision Matrix?

A visual explanation is shown in the image above. The Decision Matrix can be described as a matrix with the following quadrants:

  1. Keep: Options that meet all criteria and should be kept.
  2. Consider: Options that meet some criteria and should be considered.
  3. Eliminate: Options that do not meet any criteria and should be eliminated.
  4. Investigate: Options that require further investigation.

What is the purpose of the Decision Matrix?

The Decision Matrix is a tool used to make decisions by evaluating options based on criteria. It is a 2x2 matrix with four quadrants, each representing a different outcome. The four quadrants are labeled “Keep”, “Consider”, “Eliminate”, and “Investigate”. Each option is evaluated against criteria and placed into one of the four quadrants. This helps to quickly identify the best options and eliminate those that are not suitable.

The Decision Matrix is a useful tool for making decisions in business, as it helps to quickly identify the best options and eliminate those that are not suitable. It can be used to evaluate potential investments, new products, or any other decision that requires an evaluation of multiple options. The Decision Matrix helps to make the decision-making process more efficient and effective.


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What templates are related to Decision Matrix?

The following templates can also be categorized as business, decision making and are therefore related to Decision Matrix: Effort Impact Matrix, Gap Analysis Matrix, Growth Share Matrix, Kraljic Matrix, Outsourcing Matrix, Quadrant Analysis, Risk Analysis Matrix, Risk Value Matrix. You can browse them using the menu above.

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