How great are you at making decisions? Here’s a tool to help you out

This is such an easy tool to use yet so frequently we struggle with options, we do our pros and cons lists or we just let things rattle around in our head without being totally happy with our final choice.

This is a logical way of getting to that final decision and allows you to find peace with yourself on the decision you make, giving you the confidence through its rationality and can make you stand out as the decision maker when others around you are struggling.

This tool is simply called ‘GRID ANALYSIS’. To start off with, you need to consider two lists. The first is the OPTIONS shown in the row and FACTORS needing to be considered shown in the columns. Then you give each a score in the matrix which gets totalled at the end. May sound a bit too complex to some but it’s truly easy.

Okay, so here goes…

FIRST List your options as the rows on your table. Along the heading, write the factors needing to be considered as the column headings (these can be anything that matters, like cost, availability, service level, maintenance, reliability, dimensions etc).

SECOND Score against each of these headings against the options, these may be supplier, candidate for promotion, product whatever it may be. The score should range between 0 (Worst) to 5 (Best) and score relevantly not differently! By this I mean that if all score 2, then, so be it. You don’t have to be concerned about whether the score matches or not but that you give it a true reflection of what you believe it to be worth.

THIRD Now ‘Weight’ the importance of the factor in your overall relative importance (eg if the items were cost, practicality, reliability, quality you may rate them cost(4), Practicality(1), Reliability(3) and quality(4)… again, it doesn’t matter if a few have the same ratings). Create a row at the top or bottom of your options and write this value.

FORTH take each of your scores set against each factor/option and multiply this by the weight. So, let’s say we were looking to buy a camera. Supplier ‘A’ scored 4 on reliability so based on the previous weighting, this would equate to 4×3=12, whereas, Supplier ‘B’ may only score 2 on this factor, ergo 2×3=6 etc etc

FIFTH is the final stage where you total all the scores at the end of the row and the highest score represents the strongest option to work with

As an example, we’ll use the camera idea from before. The number before the line goes through it is the initial score, the number next to it is the total having used the weighting factor (hopefully that’s clear enough)

FACTOR

Cost

Practicality

Reliability

Quality

TOTAL

Weighting

3

2

4

4

N/A

Camera 1

4 12

3 6

5 20

4 16

54

Camera 2

5 15

1 2

2 8

5 20

25

Camera 3

2 6

5 10

3 12

5 20

48

From this, it is clear to see that Camera Two was never really in the running but One and Three were close, however, by adopting this approach, a clear winner (Camera One is ‘exposed’ as being the right one to go for – sorry, bad pun but you get the idea)

And there you have it, a Grid Analysis tool that helps you to decide between several options, where there are many different factors needing to be considered.

And you can also use this tool to help select that all important Business coach that you need in your organisation, just remember to add Coaching to Success to the Row and speak to us concerning areas that we can help with, costing, availability, benefit, ‘fun’ (always an important element to learning or striving forward with new goals or objectives) and call Neil on 07761 187238… well, it’s worth a try by us isn’t it?