In this part of “Interrelationship Digraph: Demystifying Complex Relationships” video I explain how we can use the Interrelationship Matrix to reflect results of the Interrelationship Digraph. I also show how we can construct this matrix using Microsoft Office Excel through Conditional Formatting and the COUNTIF function.
Interrelationship Digraph or Relations Diagram is one of the seven Management and Planning Tools that helps us analyze the cause-and-effect relationships among different issues in a complex situation. It also helps us focus on vital few issues with highest priorities which makes this tool echo Pareto principle or the 80/20 rule in concept.
In this part of “Interrelationship Digraph: Demystifying Complex Relationships” video I explain the tool, its uses, and how to construct it using Microsoft Office Visio.
Prioritization Matrix is a decision making tool and is one of the seven management and planning tools used in Six Sigma and Quality Management in general. It is used to determine the best option to select amongst several ones based on specific criteria using numerical values.
Watch this video to know how to create the Prioritization Matrix with Microsoft Office Excel.