Tag Archives: matrix

Prioritization Matrix

Prioritization Matrix

Many real-life decision-making situations have several conflicting criteria that need to be considered at the same time. Traditionally, this is often dealt with by applying trial-and-error methods, or by relying on the experience of people. In such situations, decision makers are required to use prioritization in order to make effective decisions. Prioritization is an essential skill that needs to be mastered by professionals to make the best use of their own and their teams’ time and effort.

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Scatter Diagram

Scatter Plot

Many situations require the investigating whether a relationship exists between two or more variables. A line manager, for example, may want to check the relationship between the number of training hours and employee productivity, or if the number of defects is a function of the experience of the person causing it. A call center manager may be interested in studying the relationship between the number of people working on a shift and the average answer time.

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SWOT Analysis

SWOT Analysis

SWOT analysis is a simple and structured planning tool for reviewing and assessing the position and health of an organization. It allows the organization to look deeply within itself to understand the factors that influence its ability to achieve its goals. It can be helpful for an entire organization, a department, a business unit, a project, and even in personal development and career progression. SWOT simply stands for Strengths, Weaknesses, Opportunities, and Threats.

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Project Selection Template

This Project Selection Template is designed to provide management with information to support the project selection process. It allows to identify the most appropriate improvement projects and prioritize them based on their potential impact to the business. This ensures business priorities are taken into account, and drives management commitment by giving them the opportunity to contribute to the continuous improvement effort.

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Paired Comparison

Paired Comparison Analysis

Paired Comparison Analysis is an activity for evaluating a small range of options by comparing them against each other. It is a useful and easy technique for rating and ranking alternatives where the evaluation criteria are subjective by nature. This is practically helpful when priorities are not clear enough, when alternatives are completely different from one another, or when there is little objective data to base our decision on.

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Stakeholder Analysis

Stakeholder Analysis

A Stakeholder is any party who may have an interest in an organization’s activity or could be affected by its outcomes. Stakeholders can be any internal or external individuals, groups, departments, business units, or organizations. Examples of stakeholders for an organization are employees, customers, suppliers, competitors, shareholders, financial institutions, government agencies, and the media.

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Pugh Matrix

Pugh Matrix

A Pugh Matrix is a selection method used to compare and select the best solution from a set of alternative proposals. It helps determine which of the solutions are more valuable than the others. One advantage of this method is that it does not require a great amount of quantitative data. Furthermore, subjective opinions about one alternative versus another can be made more objective.

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Pugh Matrix Template

The main idea behind the Pugh Matrix is to compare a set of alternatives against a standard to determine which one is the most appropriate. A basic matrix consists of the alternative proposals and a set of criteria. Start by writing the criteria in the left hand column and the alternatives in the top row. Fill the matrix by indicating how each alternative is compared against the standard (in the form of pluses and minuses). Finally, look at the bottom of the table to make the best decision for your situation.

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