Updated Articles

  1. 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 ...

  2. 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 ...

  3. 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....

  4. 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...

  5. 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...

  6. Pros and cons

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    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...

  7. Screening

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    When there are hard and fast "criteria" (as opposed to "objectives"), it is useful to screen out alternatives that do not satisfy the criteria.  For example, alternatives for a decision may be required to be "technically feasible."  Alternatives tha...

  8. Brainstorming

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    There are numerous ways to identify objectives, alternatives, etc., although brainstorming may be the most common method. The main point of brainstorming is to generate as many ideas as possible.  Get the right people – it is often useful to get to...

  9. Compensatory

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Compensatory decisions are rational decisions.  In compensatory decisions, poor performance of alternatives with respect to some objectives can be overcome with excellent performance with respect to other objectives.  For instance, a plane ticket th...

  10. Focus on Objectives

    Last Updated: 09/14/2022 in Wikis Collaborative Decision Making Elements of effective decision making methodologies
    Management by Objectives (MBO) as a concept first appeared in a 1954 book  The Practice of Management .  The author, Peter Drucker, has since become known as one of the world’s most influential business experts.  Management by Objectives is  ...
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