How do I implement a weighted scoring model?

What is a weighted scoring model and how can I implement one?

A weighted scoring model is a decision-making tool that assigns different weights to various criteria based on their importance. To implement one, start by identifying the criteria relevant to your decision, assign weights to each criterion, and then score your options against these criteria.

Can you give me an example of how to assign weights?

Sure! Let's say you're evaluating three job candidates based on experience, skills, and cultural fit. You might assign weights like this: Experience (50%), Skills (30%), Cultural Fit (20%). This means experience is the most important factor in your decision.

How do I score the candidates based on these weights?

You would score each candidate on a scale, say 1 to 10, for each criterion. Then, multiply each score by the corresponding weight. For example, if Candidate A scores 8 in experience, 7 in skills, and 6 in cultural fit, their total score would be (80.5) + (70.3) + (6*0.2).

What if I want to adjust the weights later?

You can easily adjust the weights as needed. Just ensure that the total of all weights equals 100%. Recalculate the scores after making any changes to see how it affects your decision.