make better decisions
Rationalize is built with Stuart Pugh's Decision Matrix as its theoretical backbone. The framework is used to evaluate various alternatives against a baseline using weighted criteria as an input into the decision-making process. The idea is to formalize the decision-making process, making it more rational. The framework can be used in business or personal decisions, though it is probably too time-consuming for day-to-day decision-making.
The decision-matrix method, also Pugh method or Pugh Concept Selection, invented by Stuart Pugh, is a qualitative 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 decision matrix consists of establishing a set of criteria options which are scored and summed to gain a total score which can then be ranked. Importantly, it is not weighted to allow a quick selection process.
A weighted decision matrix operates in the same way as the basic decision matrix but introduces the concept of weighting the criteria in order of importance. The resultant scores better reflect the importance to the decision maker of the criteria involved. The more important the criteria the higher the weighting it should be given. Each of the potential options are scored and also multiplied by the weighting given to each of the criteria in order to produce a result.
The advantage of the decision making matrix 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.
I am Dmitry, but friends call me Dima. I am a management consultant in my day job, but I do like working on projects such as this one in my free time. I also freelance as a designer when the right opportunity comes up. To learn more about what I do, check out my online portfolio at dima.works or my resume. I'm available for freelancing projects.
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