What is trade-off matrix?

A trade-off matrix is a decision-making tool used to evaluate and compare different options based on multiple criteria. It helps to visually represent the advantages and disadvantages of each choice, allowing for a clearer understanding of the potential compromises involved. By organizing the trade-offs, stakeholders can make more informed decisions that align with their priorities and objectives. This matrix is commonly used in fields such as project management, product development, and strategic planning.