Decision Making

There are numerous decision-making techniques which can be used. Most commonly used are decision-tree analysis and some form of forced ranking or decision matrix, sometimes known as Kepner Tregoe (see Forced Ranking and Decision Tree Analysis.

Other decision-making techniques include:

• Monte Carlo Method
• Least Distance Regression
• Factor Analysis
• Game Theory
• Linear and Non-Linear Programming
• Goal Programming
• Probability Distributions
• Conjoint analysis
• Tools that foster Convergent Thinking

• To facilitate group consensus-based decisions regarding problems, recommended solutions, and/or the evaluation of alternatives during reengineering.
• To distinguish the alternatives and possible consequences of a decision, or sequence of associated decisions, in advance of final recommendations.

Focus on clearly stating the problem to be solved, issue to be resolved, decision to be made, or alternative to be evaluated.

Collect information relevant to the subject, uncovering and separating opinions from facts, prior to the session dedicated to achieving a consensus-based decision.

If necessary, use facilitation techniques to test opinions to enable objective decision-making.

Apply the appropriate decision-making technique and, once a decision has been reached, communicate the decision to those stakeholders affected to facilitate buy-in and commitment.

References

1. Alexander Hiam, The Vest Pocket CEO, Decision-Making Tools for Executives. Prentice Hall, 1990.
Janne Wood & Denise Silver. Joint Application Design. John Wiley & Sons, 1989.