To help create a decision table to make this important decision, follow these steps
- First of all, make a list of the key criteria, which are essential for the partnership, e.g. location, price, technical competence etc.
- Then create a table with your key criteria in the furthest left hand column, adding additional columns to the right to compare the different companies you are looking at. To do this use a rating of 1 to 3 where 3 is the best, giving you a “criteria score”.
- Then add a “weighting” column to the right, to rank each criterium from 1 to 3. Then creating additional columns to the right of these, enter a calculation for “criteria score” x “ weighting for each company and add up the scores for each company giving you a total for each business. The company with the highest score should be your preferred contractor. See an example of a decision table below.
In this case company 3 is the preferred service provider.
This table can also be used to help relay decision processes to senior management.