The Weighted Scoring Method

The weighted scoring is a group decision-making method is also great when you need to think carefully about consequences. It weights important aspects, so it helps to make a final decision.

Start by collecting ideas from group members. Later, determine your influencing factors, ideally the list of factors should not be too long.

It can be effort, cost, customer satisfaction, recourses needed, time, etc. Then rate these criteria by giving them weight, number (for example, from 1 to 5).

Rate each possible choice for each weight and calculate weighted scores. The highest score, the best decision.

When there are multiple factors to examine when deciding, it’s usually the case that some of those things are more important in making the decision than others. A weighted scoring model, also known as a decision matrix, is an analysis tool that provides a systematic, structured process for selecting options based on multiple criteria.

It allows us to decide based on several important factors. It simplifies, and quantifies, what regularly starts out as a complicated question in order to arrive at an objective answer.

As with many things, the process is much better explained with an example.

Assume that for a particular project, you need to select between three potential vendors. In making your selection, the price is important, but so is your past reputation with that vendor on other projects.

Additionally, your company is instituting new sustainability initiatives and so it is important that you are sourcing from vendors who can work in compliance with this new mandate. Altogether, you are looking at three criteria with different levels of importance – or weight – in making your decision.

Any way it is applied, weighted scoring models are valuable tools for situations where a decision needs to be made in consideration of multiple sources of criteria.