Feb 21 2009
Key Criterias and Elements for effective decision-making
Key Criterias for effective decision-making processes:
It acknowledges both subjective and objective factors and blends analytical with intuitive thinking;
It is easy to use, straightforward, reliable, and flexible.
It focuses on what is important;
It requires only as much information and analysis as is necessary to resolve a particular dilemma;
It is logical and consistent;
It encourages the collection of relevant information and informed opinion;
Key Elements for making effective decision:
1. Consider all risks and consequences.
2. Deal with the right problem and work on that.
3. Understand all relationships and inter-conectivity between all decision elements.
4. Clarify all areas of uncertainties.
5. Specify goals and objectives prior to embarking the decision process.
6. Create options and alternatives.
7. Willing to make trade-offs.
8. Understand risk tolerance and impact.
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