Decision-Making – Evaluating Decision Options, part 3 of 3

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StrategyDriven Decision Making ArticleAlternative selection is the point in the decision-making process where art meets science and academic knowledge meets hands on experience. There is often no one perfect solution or one best solution. Rather, there will exist several alternatives within the acceptable value range from which the decision-maker will ultimately have to choose one option.

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Decision-Making – Evaluating Decision Options, part 2 of 3

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Once a decision’s requirements, important value-adding, and nice-to-have characteristics are defined and various options possessing these qualities evaluated, the total value of each alternative must be assessed in order to enable option selection that will most effectively achieve the desired results.

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Decision-Making – Evaluating Decision Options, part 1 of 3

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Decision-making often involves trade-offs. Risk aversion suggests that all things being equal, decision-makers will select the option having the lowest risk. But because all things are never quite equal, decision-makers concede items they deem to be of lesser value to items they believe hold greater value with risk being one of the commodities considered.

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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

New Model Release – Opportunity & Problem Statement Development Model

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StrategyDriven contributors are pleased to announce the release of our seventh model: Opportunity & Problem Statement Development model. This model compliments StrategyDriven‘s decision-making best practices Identify the Target and Multidiscipline Teams by illustrating the often complex, multifaceted nature of organizational opportunities and challenges and how cross-functional teams are needed to ensure full understanding and appropriate response is taken to maximize benefits or minimize losses.

Decision-Making Best Practice 4 – Identify the Target

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StrategyDriven Decision Making Best PracticeDecision-makers and implementers must clearly understand the desired opportunity or problem outcomes in order to effectively select and execute appropriate actions. Without a well defined focal point, decision-makers and implementers risk selecting and performing either inefficient or inappropriate actions; expending resources on low value adding activities thereby diminishing an opportunity’s benefits or increasing a problem’s adverse impacts. Clear, concise opportunity and problem statements enable decision-makers to more readily identify the appropriate solution alternative and give implementers a target against which they can judge the effectiveness of their actions.

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Additional Information

The StrategyDriven model, Opportunity & Problem Statement Development model, illustrates the need for an appropriately qualified multidiscipline team when making complex decisions. The Opportunity & Problem Statement Development model can be accessed and downloaded by clicking on the links provided within this post and from the StrategyDriven Models webpage.

About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.