Updated Articles

  1. Iteration

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Iteration is the act of repeating a process to generate a sequence of outcomes, with the aim of approaching a desired goal, target, or result.  Each repetition of the process is also called an iteration .  The results of one iteration are used as...

  2. Sensitivity analysis

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Most, if not all, decisions are made under uncertain conditions.  Sensitivity analysis is a technique used to determine how different values of an independent variable impact a particular dependent variable under a given set of assumptions.  It  is ...

  3. Measures of consensus

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Consensus decision-making is a group decision-making process in which group members develop, and agree to support, a decision in the best interest of the whole. Consensus decision-making is a dynamic way of reaching agreement between all members of...

  4. Measures of inconsistency

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Humans are unreliable decision makers because our judgments as humans are generally strongly influenced by irrelevant factors. 1  This is the expert opinion of Daniel Kahneman, the Nobel Prize winner in Economic Sciences and a master in understandi...

  5. Synthesis

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Synthesis involves putting together or combining parts into a whole.  Analysis - the separating of any material or abstract entity into its constituent elements - is the opposite of synthesis. 1 Organizations have become quite good at doing analys...

  6. Roles

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    A major challenge of almost all organizations today is finding a way to integrate the knowledge and expertise of their personnel in decision making and forecasting.  In The Wisdom of Crowds, 1  James Surowiecki shows that under certain conditions ...

  7. Collaboration

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Engaging stakeholders and subject matter experts increases participation .  As people feel more engaged with decision-making and planning, they will also feel more motivated .  Both increased participation and motivation can further lead to ...

  8. Quantitative data

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Quantitative data is highly valued.  But there are several potential problems using raw quantitative data: It may not represent what you think it does; for example, data about the past does not necessarily reflect what will happen in the future....

  9. Qualitative judgment

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Qualitative judgments are subjective judgments based on factors or information that can't be easily or accurately quantified.  The importance of objectives, which is by definition subjective, is a qualitative judgment.   The anticipated performance...

  10. Structuring

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    All non-trivial decisions have multiple objectives, and sometimes sub-objectives.  The resulting complexity opens the door to the limitations of effective decision making and the use of counter productive strategies .  Structuring objectives into...
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