Effective Decision Making

Many courses on the market are on the issue of decision making.  I think it is more important to put it into practice than just attending the lecture.  I have put related online resource here and hope you can understand and apply these method immediately in your business or personal issues:

Mindtools.com provides an introduction here with 40+ methods.  I think the introduction is great, but 40+ methods are too many.  I have highlighted only 6 methods below:

Objectives:
Make sound decisions based on any of the following methods:

• Pareto Analysis (aka 80/20)
• Key points: Just to focus on important issues which yield the most improvements (or solve most of the problems).
• 


• (Excel Template)
• Paired Comparison Analysis
• Compare between  multiple options
• 
• Grid Analysis
• Compare between multiple options

Factors:	Cost	Quality	Location	Reliability	Payment Options	Total
Weights:	4	5	1	2	3
Supplier 1	4	0	0	2	9	15
Supplier 2	0	15	2	4	3	24
Supplier 3	8	10	1	6	0	25
Supplier 4	8	15	3	6	0	32

• PMI (Plus-Minus-Interesting)
• Decision on go or not go on a single choice

Plus	Minus	Interesting
More going on (+5)	Have to sell house (-6)	Easier to find new job? (+1)
Easier to see friends (+5)	More pollution (-3)	Meet more people? (+2)
Easier to get places (+3)	Less space (-3)	More difficult to get own work done? (-4)
	No countryside (-2)
	More difficult to get to work? (-4)
+13	-18	-1

• Force Field Analysis
  (force for change vs force against change)
  Decision on go or not go on a single choice
  
• Six Thinking Hats
• For brain stoming
• 
• A sample application here.

• Cost / Benefit Analysis
• Compare between multiple options
•