Decision Matrix as an element of House of Quality
The House of Quality, at first glance, may appear very complex and challenging; but as you examine the process you will see how it builds into, and upon, a basic decision matrix. What is a decision matrix? It is an effort to quantify variables to make the best decision possible. For example, let’s say that you are in the process of buying a house. The first thing you want to do is to determine what the key variables are that will help you make your decision. Some of the variables might include: quality school district, safety based on crime statistics, number of bedrooms, proximity to shopping and so forth. The second thing you would do is weight these variables based on a total of a hundred points (or 100%). If you have determined the important variables correctly and weighted them to your real desires you are ready to start looking at houses. You can score each house in each category on a 1 to 5 scale (5 being best fit, to 1 being worst fit). Looking at 50 houses and scoring each house on this scale, you would finally multiply each variable by each score then tabulate the total for each house. The highest score should be the best choice.
In business, this can work extremely well for such things as determining which of dozens of vendors will best meet your needs.
Based on your real life experiences, identify a situation where this decision making process could have been, or could be in the future, an effective tool in your decision making process. What variables can you identify for your example that is important and how would you rate them?
Share questions and ideas about variables that may have been missed in your peer’s assessments. Ask clarifying questions about the variables, and work together to red team each other’s set of variables. This process can help someone review their own thinking about what is important.
Remember the peer element of this discussion is to think through the process of establishing variables to make a decision. The discussion should be open and questioning, but not adversarial. One way to approach this method of questioning is to frame the question in a neutral way, such as, “Have you considered…”Click here to get this paper done by our professional writers at an affordable price!!