Let’s get down to weights!

Have you ever stared at a menu, paralyzed by choice? Constantly changing your mind about which dish is “best.” Or pondered which Netflix show to binge, knowing you’ll regret not picking the other one? Welcome to the wonderful world of decision-making! While it might feel like a guessing game at times, there’s actually a method to the madness: weighting.

Weight a Minute?

Each criteria has different levels of importance. It can also help as a foil for letting emotion impact decision quality!

 

Weighting, in the grand scheme of decision-making, is like assigning VIP status to different factors. It’s about recognizing that not all criteria are created equal. Nor should they be. Knowing what you are optimising for in each situation can be a really useful tool in your arsenal.  “Weight n Rate” can be a real ally here. For example, when choosing a new apartment, location might be your VIP (high weight), proximity to public transport (medium weight) while having a dishwasher might be a nice-to-have (low weight).

The interesting thing is that this process is often occurring subconsciously, but if we bring it out into the light of day it can be a lot more effective. I drink a lot of coffee and by virtue of this I spend a lot of time in cafes (working of course) One of the interesting things I observe is how perplexed people become when faced with an empty coffee shop and a multitude of seating options. This is what Barry Schwartz would call the “Paradox of Choice”.  However, there is an interesting process happening beneath the surface when choosing and it involves weighting your options.

In the midst of the confusion you are sorting through the factors that are most important to you. Do you want to sit near a window or away from a window i.e. are you looking to be distracted or get in the zone? Is the table too big or too small? Does it need to be near a power socket? Does it need to be a couch or a table? Does the chair look comfortable?

To the innocent bystander this can look like the individual has become temporarily paralysed but in fact they are merely filing through a decision-making process. Usually, they will land on a preference but with little awareness as to why they chose this two-seater near the window with a power socket.

Weighting, like all decision-making tools is not without its limitations, but it can be a very useful tool to employ in many situations far beyond where to sit for your next cappuccino. Maybe you are evaluating whether to leave your job, shake up your portfolio or go back and get that MBA.

 

So how can you Weigh Your Options

1. Identify Your Criteria: What matters most? Make a list of factors that are important to you. For apartment hunting, this might include location, price, size, amenities, and proximity to transport links. For a business decision it could be cost, speed, accuracy, quality and progression/feedback.
2. Assign Weights: Give each criterion a number between 1 and 5. The higher the number, the more important it is. For example, speed might get a 5, while quality gets a 2. In this instance you are optimizing for fast action that can be reviewed, and quality can be improved as you go.
3. Score Your Options: Rate each option based on how well it meets each criterion.
4. Multiply and Conquer: Multiply the score for each criterion by its weight.
5. Find Your Winner: Add up the scores for each option. The highest score is your potential champion!

 

What it looks like in action.

When faced with a decision you had it whittled down to 3 possible options you can pursue. You then must weight these against the key criteria you have identified.

Criteria to Weight on the Vertical Axis. Options available to Rank on the Horizontal Axis

 

Criteria	Criteria Weight	Option A	Option B	Option C
Cost	1	1*3	1*5	1*2
Speed	4	4*5	4*3	4*2
Accuracy	1	1*3	1*4	1*3
Market feedback	5	5*5	5*3	5*2
TOTAL		51	36	23

 

Taking a weighted approach to your important decisions helps leaders:

• Structure your decision-making rather than running on autopilot
• Reduce bias by making your key decision-making criteria conscious
• Increases clarity
• Create a space for intentional “slow” thinking – Daniel Kahneman’s System 2.
• Increase team alignment by articulating key criteria and what we are optimising for in this decision

So, the next time you’re faced with a tough decision, don’t stress! Grab a pen and paper, assign some weights, and let the numbers guide you. Remember, it’s not just about choosing the best option, but the right option for you.

Taking a “Weight n Rate” approach is a good first step in being more intentional about how you make decisions. I will share more insights on how to improve your decision making over the coming months.

 

John McNamara is currently enrolled in a Professional Doctorate in Human Performance & Innovation at the University of Limerick. The focus of his research is on how we can optimise the process of making effective decisions in global technology companies. John has 15 years’ experience as an executive coach working with a global client base of leaders.