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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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