The Scenario Assessment Matrix Tool plots two or three variables on a matrix to analyse various scenarios. The variables can be interdependent or related variables such as Profit & Savings, Frequency & Impact, Income & Growth, etc. The variables can be either input manually or determined by a calculated formula.
Risk scores are also calculated and various scenarios, vendors, categories, etc. are ranked accordingly to help you make business decisions. You can also keep a historic track of your assessments and their mitigation or other actionable steps, and changes over time.
The tool can also compare up to seven, or more depending on your screen resolution, inputs. These can be various scenarios, vendors, countries, etc. that you plan on evaluating. In Comparison mode, the matrix uses an intelligent and intuitive method to plot a histogram using pre-defined symbols for each scenario. The user can then visually analyse where the tendency and frequency of a scenario lies in comparison to the others, to decide which scenario to adopt.
In the above image, the user may choose to go ahead with 'Vendor 3' (%), since the '%' symbols tend to appear toward the top left, which implies lesser frequency and impact of risk.
The tool uses dynamic Excel Tables and all the elements of the matrix - captions, number of columns, symbols, scenario names, etc. can be configured by the user with little training. While the original Input Table includes seven columns that are manually input, the tool can easily adopt to any other Excel data inputs and have the matrix inputs calculated manually.