Management Tip of the Day: Structured Decision Making
Some people flip a coin, while others use a crystal ball to make decisions. The more important the decision, the more important it is to have some structured method by which you arrive at your decision. Join us this week, as we discuss Structured Decision Making.
Monday’s Tip (Structured Decision Making): Brainstorm a list of several possible solutions. You need to have choices to evaluate. Get your team together, and put as many alternatives together as you can think of. Evaluate them afterward.
Tuesday’s Tip (Structured Decision Making): Decide on a clear criteria on which you will base your decision. Some standard criteria are effectiveness, feasibility, cost, time, capability, acceptance (or enthusiasm). Adjust these criteria, or add more to best address your situation.
Wednesday’s Tip (Structured Decision Making): Not all criteria are equal. Weight your criteria depending on your situation. In some cases time may be paramount. As such, give it a higher weighting than the rest.
Thursday’s Tip (Structured Decision Making): Objectively score each alternative on each criteria. Being objective is hard work, but if you look at each criteria individually, it is easier to get a complete evaluation of each alternative.
Friday’s Tip (Structured Decision Making): Move to action once your decision has been made. Do not second guess. After you’ve made your decision based on more objective criteria, take action on that decision. Only reopen a decision if more or better information has become available.
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Question of the Week: Is it better to delay a decision pending more/better information, or to make the decision, and fix it afterward if you are wrong?
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