Using a decision making tool you will follow a more structured logical way while making a decision instead of just relying on your instincts. The process ensures that you can easily communicate and argue your decision and at the same time it enhances the quality of your decisions.

Grid Analysis: (also known as Decision making matrix) making a choice where many factors are considered 

It is particularly powerful when you have a number of good alternatives to choose from, and many different factors to take into account. It is a great technique to use in almost any important decision where there is not a clear and obvious preferred option.

The technique works by getting you a list of your options as columns on a table, and the factors you need to consider as rows. You then score each option/factor combination, evaluate and summarize them to give an overall score for the option. 

During the whole process you have to keep in mind your original goals and priorities as well as the potential alternatives and risks.

Step by step process

1. Decision statement
   You have to state your goal in a crystal clear sentence.
   This statement will define the boundaries of your decision.
   Example: The company would like to buy 20 new cars, and you have to decide which model to buy.
   
   
2. Select your criteria
   Brainstorm to create as much criteria as you can
   Identify the "must" criteria: those that "if missing" will exclude the model from the choice.
   Identify the "would be nice to have" criteria.
   Next, work out the relative importance of the factors in your decision. Show these ones as numbers from, let's say, 0 to 10, where 0 means that the factor is absolutely unimportant in the final decision, and 10 means that it is very important. (It's perfectly acceptable to have factors with the same importance.) We will use these to weigh your preferences by the importance of the factor.
   Then list the factors that you need to consider as the rows labels.
   
   
3. Generate alternatives
   The next step is to list all of your options as the column headings on the table.
   Depending on the subject it means to collect proposals, information, or brainstorm again.
   
   
4. Evaluate the alternatives
   The next step is to work your way through the rows of your table, scoring each factor for each of the option in your decision. Score each option from 0 (poor) to 10 (very good). Note that you do not have to have a different score for each option - if none of them are good for a particular factor in your decision, then all options should score 0.
   You have to eliminate all alternatives that do not live up to the musts.
   
   
5. Multiply
   Now multiply each of your scores from step 4 by the values for relative importance you calculated in step 2. This will give you weighted scores for each option/factor combination.
   (You can also calculate the maximum score for each option. Multiply each of your factors of relative importance by the maximum scores and you will see how near your best choice is to the ideal decision.)
   
   
6. Add up
   Finally add up these weighted scores for each of your options. The option that scores the highest wins!