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Anchoring (or focalism) is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions. During decision-making, anchoring occurs when one uses an ini...
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Comparion includes a rich text editor for maintaining information documents. Information Documents can be useful to document the analysis in order to justify the decision (transparency). Information documents can also be used to inform evaluators ...
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Last Updated: 12/17/2021
in Release Notes October 23, 2019 | HTML5 (No Silverlight version) We are excited to introduce you to Expert Choice Comparion® 2020. Key improvements: Expanded browser support. Comparion 2020 allows you to use any HTML5 supported browsers, which means ALL mod...
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Use Server Manager to add roles and features to enable IIS and the necessary components. (On Windows 10, use Control Panel | Turn Windows features on or off instead of Server Manager and define only the features.) From a fresh Windows Server 2016,...
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Last Updated: 10/25/2021
in Allocate Comparion Resource Allocation helps you if you are deciding on a combination of actions to take, such as a portfolio of capital investments or models. The allocation step is a powerful way to determine an optimal combination of actions or investmen...
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Perhaps the most common "formal" approach to making a choice among alternatives is to list the pros and cons of each alternative. Certainly it would be wrong to calculate the net number of pros over cons for each alternative and then select the alt...
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A rule of thumb is a principle with broad application that is not intended to be strictly accurate or reliable for every situation. 1 It is based not on theory but on practical experience. FW Taylor, who is often called "The Father of Scientif...
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Overconfidence is the tendency to overestimate our ability to make good decisions. Research 1 indicates that the more experience a manager has, the more likely it is that he or she will be overconfident in making decisions. Therefore, awareness o...
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A Sunk Cost is a cost that is incurred and can not be meaningfully recovered by any practical means. 1 For example, a business may have invested a million dollars in new hardware. This money is now gone and cannot be recovered, so it shouldn’t ...
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Last Updated: 09/14/2022
in Wikis Being a good leader requires more than just knowing the right way to do things. It also requires knowing how to choose the right things to do . Decision-making is arguably the most difficult, and the most essential, task a manager performs. Effect...