A decision matrix is a decision tool used by decision makers as part of their Decision-Support Systems (DSS) toolkit. It’s a tool that acquirers use to address requirements that an acquisition plan template worthy of the name defines for selecting the contractor best matching their needs, as part of the acquisition life cycle.
In the context of procurement, which is the solicitation and selection process enabling the acquisition of goods or services from an external source, the decision matrix, also called scoring matrix, helps determine the winning bid or proposal amid all those sent in response to an invitation to do so that, depending of the best-suited solicitation process. Click here to read more…
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