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 The business book.  The ultimate resource.

 

Making rational decisions.

 

Advantages.

Provides evidence and support about that the final decision.

Work particularly well in complex or fuzzy situations.

Is thorough and systematic.

Uses effective information gathering, not preconceived ideas.

Provides the effective technique for determining a route through a mist and securing commitment to it.

 

Disadvantages.

Very time-consuming, resource intensive, especially in a fast-moving situation.

Information sometimes difficult to acquire.

Strict adherence.

Highlights the possibility that a rational decision may not be the right one.

 

Checklist.

1.  Decide on the decision to be made.

Be clear on the exact decision.

 

2.  Establish the objectives.

Should be measurable.

Involves consultation, information searching, and checking.

 

3.  Classify the objectives.

Differentiate between the essential and the desirable.

Musts and wants.

 

4.  Define the musts.

Quantitative measure or objective standard.

Assign quantitative measures to the musts.

 

5.  Define the wants.

Examine the wants, grade them, on a scale of one to ten. Ten most important.

The more defined, the better final decision.

 

6.  Generate the alternatives.

Research your alternatives.

 

7.  Apply the alternatives to your requirements.

The information obtained, should be recorded for each alternative against each must objective.

 

8.  Test the alternatives against the musts.

Reject the options that do not meet the musts.

If you do not wish to reject an alternative, you are not adhering to the rational process, restart at step 3.

 

9.  Score the remaining alternatives against the wants.

Alternatives that meet the best should be scored highest and others allocated proportional scores.

 

10.  Multiply the weights by the scores.  Table format.

 

11.  Come to a provisional decision.

 

12.  Making final decision.

The analysis will provide a sound framework for clear examination.

It is not always required to use the entire process, but think about it.

 

The dos.

Verify your objective will meet your needs.

Take time in working out musts, make them measurable.

Get sufficient information to choose from a number of alternatives.

Remain objective.

Reexamine the process, after the provisional decision, to tighten or modify aspects.

 

The don'ts.

Jumped to quickly, personal preferences cloud, preconceived ideas, cutting corners, excepting the provisional decision.

Do not use this approach for solving problems.

 

Thoughts starters.

Do you have a difficult or fuzzy decision to make.

Do you need to impose order on a mass of data.

Do you need to show evidence and method for how you make the decision.

 

End of data.

 

 

 

 

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