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Decision matrix templates

Learn what a decision matrix is and how to create a weighted or unweighted decision matrix.
Laila Robinson
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Making decisions, even easy ones like, “What should I eat for breakfast?” can often take longer than it should. Part of the problem, especially in project management, is that a wrong decision can disrupt your workflow, interfere with deadlines, or impact the budget.
Good decision-making is never easy, and the more people that get involved, the harder it gets. This is where a decision matrix comes in.

What is a decision matrix?

A decision matrix is a grid used in the decision-making process to help you make better decisions. Setting up a decision matrix allows you to assess your various options and compare them against each other based on certain evaluation criteria relevant to the decision rather than how you feel about something. It is designed to help you determine a solution to multi-criteria decision analysis (MCDA).
A decision matrix can also be referred to as a Pugh matrix, decision grid, or grid analysis. And while there can be some differences in how each matrix operates, these systems all use grids to help you assess your options and make a decision.
That being said, there are two main types of decision matrices, the weighted decision matrix and the unweighted decision matrix. It’s easy to build both a weighted decision matrix and an unweighted decision matrix in Coda. My decision matrix template below includes both types of decision matrices in the same template.

Decision matrix templates

This template was built with Coda, the all-in-one-doc that brings words, data, and teams together. Use the decision matrix template below in play-mode without making any changes. Or copy this doc to customize your template and save your edits.

Weighted decision matrix

A weighted decision matrix is used when your evaluation criteria hold different weights. This is because sometimes certain criteria are more important than others, and you want that to be reflected in your decision-making process. The idea is that the option with the highest weighted score in your decision matrix is the obvious choice, based on what criteria are the most important to you.
For example, if you’re making a business decision to decide on a new IT service provider, you might rank your options based on cost, risk mitigation, change management, support, and ease of implementation and procurement. You add a rating for each criteria and when you calculate the final score, the IT service provider with the highest score is the best option.
In this weighted decision matrix template, you can add the weight by % for your decision criteria in “What do you value”. Then, after scoring your criteria in the decision matrix table, the final decision can be made by looking at the weighted score column.
Play with this template below! And then
Make a copy
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to save your edits.
What do you value?
Name
Percent
1
ROI
20%
2
Impact
30%
3
Cost
30%
4
Risk
20%
There are no rows in this table
100%
Sum
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Weighted decision matrix example
Option
Cost
ROI
Impact
Risk
Weighted score
Choose an option
1
Create Monetization Ecosystem
$15,000
Small
Medium
Medium
483
​
2
Create Mobile App
$20,000
Medium
High
Medium
450
​
3
Create more integrations
$35,000
Big
High
High
343
​
There are no rows in this table
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Unweighted decision matrix

An unweighted decision matrix is similar to a weighted decision matrix, except that you are assuming that all of your evaluation criteria hold equal weight. The decision you are trying to make is based on whether or not your options fulfill various requirements, like a checklist. For example, when evaluating IT service providers like we did above, in an unweighted decision matrix you only care that the providers check off the list of services you need. The provider that checks off the most services you are looking for is the winner.
In this unweighted decision matrix template, you would make your final decision based on the option with the highest raw score.
Play with this template below! And then
Make a copy
⁠
to save your edits.
Unweighted decision matrix example
Option
Cost
ROI
Impact
Risk
Raw score
Choose an option
1
Create Monetization Ecosystem
$15,000
Small
Medium
Medium
933
​
2
Create Mobile App
$20,000
Medium
High
Medium
1,050
​
3
Create more integrations
$35,000
Big
High
High
943
​
There are no rows in this table
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Why use a decision matrix template?

A decision matrix is a useful decision-making tool for you and your stakeholders to help make difficult business decisions, prioritize what’s important, and defend previous decisions based on data.
This decision matrix template helps you break out of an excel spreadsheet and move to a more automated system to help you make decisions objectively. With this template, you can quickly create a matrix, define the criteria, apply the weighting to the options (or not, depending on if you are using a weighted decision matrix or an unweighted decision matrix), and tally the score.
In this template’s example, creating a monetization ecosystem is the best decision for the team. The decisions’ weighted score is the highest and all factors were included in the calculation. This decision matrix was built in Coda.
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Decision matrix template made in Coda with criteria like ROI, Impact, and Risk. Provides the raw and weighted score for each option.
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What are the benefits of a decision matrix?

One of the biggest benefits of a decision matrix is that it gives you a consistent way to make decisions. You won’t spend hours or days bogged down and assessing the options yourself. A clear decision-making process helps make the right decision obvious.
A decision matrix removes emotion and subjectivity from decisions being made in a group. An example is deciding where to eat lunch with a group of friends. The decision matrix removes the back and forth discussion that often becomes frustrating. Within a group project, the same principle applies. The decision matrix makes it more likely that the best option is chosen based on certain criteria while eliminating the extra time commonly spent discussing every option.

When to use a decision matrix template

Use a decision matrix if you are:
Narrowing down multiple options to make a final decision.
Trying to make an objective and logical decision, rather than a subjective and emotional one.
Attempting to shortlist a long list of options.
Weighing different factors and want to account for factors that may be more important than others.
Comparing similar options.
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👉 Get started with this decision matrix template.
Copy this template
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Copy this free template to use for your key business decisions. Visualize your options and ensure potential decisions align with your team’s goals and principles.
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How to use this free decision matrix template.

Step 1: Define a problem and list your options.

When making a decision for an important project or problem, start by creating a problem statement. In
Make a decision
⁠
you can input the problem or define a project that your team must decide on in
Project question:
⁠
. Next, define a Project Budget to set a max limit on the amount of money to be spent on the decision plan.
Naturally, you can’t make a decision if you don’t have a list of options. Once you have your list, drop them into the
Decision matrix
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.

Step 2: Define decision criteria and rating scale

After listing your options, it’s time to select the criteria for making your decision. This can be things like ROI, cost, impact, value, and potential issues with the solution. The more criteria you come up with, the more likely you are to make the best decision for your project. You can add your criteria in the columns of the
Decision matrix
⁠
table.
Next, you can rank each of your criteria in the
Decision matrix
⁠
table. The rating scale for each criteria is defined on the
Rating criteria
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page, and based on depth of each criteria, you can adjust the rating scale.
Finally, in the
Decision matrix
⁠
table, rank your criteria based on rating scale you set in the step above.

Step 3: Weighted decision making vs Unweighted decision making

This step is only applicable if you are interested in a weighted decision matrix. In some projects, you may put a higher value on certain aspects of your decision-making. For example, you may have a project where Impact is more important than Cost. In
What do you value?
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, you can adjust the percentages for each criteria, as long as it adds up to 100%. Based on how you value things, the
Decision matrix
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will provide Weighted Scores for each option.
Otherwise, if you choose to have an unweighted decision making matrix, where all criteria are equal, you can look at the Raw Scores in the
Decision matrix
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.

Step 4: Make a decision

After choosing an option that you wish to move forward with, click the Choose Option button to create a
Decision plan
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where you can plan your team’s objectives and goals for the project.
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A few of the 40,000+ teams that run on Coda.

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