What is it?
Decision analysis
is a technique to assist you, or a group, to determine the choice of
an action to take, taking account of eg. the objectives, what alternatives
there are and what risks are involved.
When to use it
- Deciding which
solution to implement
- Deciding which
course of action to take
What does it achieve?
When a decision
is required, and people are given the opportunity to contribute towards
the choices being considered, they will be more inclined to work as
a team. The team members will be able to share information, and discuss
their relevant positions and priorities, so that the reason for any
decision is more readily accepted and understood.
Because the different
options within the team have been aired, the process of making the decision
is less biased and the decision itself is more balanced.
When faced with
a number of options, decision analysis provides a structured route towards
the best all round decision. These options should be considered by assessing:
- The potential
drawbacks of each option
- All aspects
to be considered against each option
- All aspects to be considered for each option
- Whether they will achieve the objectives
Key steps
- Define decision required
- Decide decision criteria - MUSTS and WANTS
- Select options
- Rate options
- Look for adverse consequences and unforeseen benefits
- Rate probability and seriousness of adverse consequences
- Analyse and evaluate