Decision-matrix method
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The decision-matrix method, also Pugh method, 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 investments options, vendor options, product options or any other set of multidimensional entities.
A basic decision matrix consists of establishing a set of weighted criteria upon which the potential options can be decomposed, scored, and summed to gain a total score which can then be ranked.
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.
Morphological analysis is another form of a decision matrix employing a multi-dimensional configuration space linked by way of logical relationships.
