Thus far, the “Making Decisions” series has presented tools and processes used primarily for prioritization or single selection decisions. Decision trees, in contrast, can be used to aid strategy decisions by mapping a series of possible events and outcomes.
Its graphical format allows a decision tree to present a substantial amount of information, while the logical progression of strategy decisions remains clear and easy to follow. The use of probabilities and monetary values of outcomes provides for a straightforward comparison of strategies.
A Pugh Matrix is a visual aid created during a decision-making process. It presents, in summary form, a comparison of alternatives with respect to critical evaluation criteria. As is true of other decision-making tools, a Pugh Matrix will not “make the decision for you.” It will, however, facilitate rapidly narrowing the field of alternatives and focusing attention on the most viable candidates.
A useful way to conceptualize the Pugh Matrix Method is as an intermediate-level tool, positioned between the structured, but open Rational Model (Vol. II) and the thorough Analytic Hierarchy Process (AHP, Vol. III). The Pugh Matrix is more conclusive than the former and less complex than the latter.
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