Decision-matrix method: Difference between revisions

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Invented by [[Stuart Pugh]] the '''decision-matrix method''', also '''Pugh method''', '''Pugh Concept Selection''' is a quantitative technique used to rank the multi-dimensional options of an option set. It is frequently used in [[engineering]] for making design decisions but can also be used to rank investment options, vendor options, product options or any other set of multidimensional entities.

A basic decisiondecisio matrix consists of establishing a set of criteria upon which the potential options can be decomposed, scored, and summed to gain a total score which can then be ranked. Importantly, the criteria are not weighted to allow a quick selection process.

The advantage of this approach to decision making is that subjective opinions about one alternative versus another can be made more objective. Another advantage of this method is that sensitivity studies can be performed. An example of this might be to see how much your opinion would have to change in order for a lower ranked alternative to out rank a competing alternative.