Options Appraisal Matrix
When there is more than one option for the proposed solution, it might be useful to use a weighted options appraisal matrix to understand which option best meets the most critical initiative activities.
This matrix allows the solution options (proposed changes) to be ranked against the requirements to identify the best fit.
An example is shown below, feel free to add your own requirements and weightings.
Click the DOWNLOAD button to access the Prioritisation Matrix template.DOWNLOAD
Hints & Tips
- Use a table like the image above, adapting to the number of options you have.
- Under Requirements, list the items that are identified as being important.
- It is recommended to limit the Customer Importance Weighting to a scale of 1-5.
- Apply weightings to the requirements in order of importance.
- Then allocate points based on how well the proposed option will meet each requirement.
- Multiply the Importance Weighting by the points allocated, to give a score for each requirement.
- Then add up the score for each proposed solution / option.
- The Options Appraisal can be included in both the Prima Facie and Full Business Cases as part of the Investment Appraisal process.