Decision making involves choosing between different alternatives to achieve the best possible outcome. Decision making and Thinking a like skill that can be improved with practice. Read 12 Decision Making Methods to make effective and better choices and decisions. Consideration of various factors, including the potential consequences, risks, and benefits associated with each option is recommended. The methods outlined below offer structured approaches to simplify and improve the decision-making process. Some of Decision Making Methods can also be found in the de Edward Bono's Thinking Course.
The Pareto Method (80/20 Rule)
This method involves identifying the 20% of options that will give you 80% of the desired results. Focus on the alternatives that have the most significant impact.
Questions for the Pareto Method
- Which 20% of options will yield 80% of the benefits?
- What are the key factors that contribute to the effectiveness of these options?
- How can you prioritize these high-impact alternatives?
- What can you do to maximize the benefits from these key options?
The Ideal Solution Method
First, list the alternatives, then create an ideal solution. Evaluate how closely each alternative matches the ideal solution, rather than examining them on their own merits.
Questions for the Ideal Solution Method
- What does the ideal solution look like in this situation?
- How closely does each alternative align with the ideal solution?
- What compromises are you willing to make to achieve the ideal?
- Which option best approximates your ideal solution?
The Dice Method
This method involves listing all possible options and then rolling a dice to randomly select one. It's a way to remove personal bias and make a quick decision.
Questions for the Dice Method
- What are all the possible alternatives available?
- Is randomness an acceptable way to make this decision?
- How do you feel about leaving the decision to chance?
- What is your plan if the random choice turns out poorly?
The SWOT Method
Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for each alternative to systematically evaluate the pros and cons.
Questions for the SWOT Method
- What are the strengths of each alternative?
- What are the weaknesses associated with each option?
- What opportunities can each alternative capitalize on?
- What threats could impact the success of each option?
The Spell-out Method
Imagine you have chosen each option, one by one. For each, articulate your reasons for the choice to someone you trust, helping you clarify your decision.
Questions for the Spell-out Method
- How would you explain your choice to someone close to you?
- What reasons would you give for selecting this alternative?
- Would your trusted person agree with your reasoning?
- How confident do you feel after explaining your decision?
Pros and Cons Method
List the positive and negative aspects of each alternative to weigh their advantages and disadvantages.
Questions for the Pros and Cons Method
- What are the positive aspects (pros) of each alternative?
- What are the negative aspects (cons) associated with each option?
- How do the pros and cons compare across all alternatives?
- Which alternative has the most compelling balance of pros and cons?
The Buriden's Ass Method
This method involves critically evaluating each alternative and deliberately trying to find flaws in them to determine which one is least unattractive.
Questions for the Buriden's Ass Method
- What are the potential downsides of each option?
- Which alternative seems to have the most significant flaws?
- Are the flaws you've identified deal-breakers?
- After identifying the negatives, which option still seems viable?
Cost-Benefit Analysis (CBA)
Quantify the costs and benefits associated with each alternative to determine which one offers the greatest net benefit.
Questions for Cost-Benefit Analysis (CBA)
- What are the specific costs involved with each alternative?
- What benefits or gains can be expected from each option?
- How do the costs and benefits compare across all alternatives?
- Which alternative provides the highest net benefit after considering costs?
The Best Home Method
Determine the best context or situation for each alternative. Consider which option would thrive best for a specific type of person in a particular circumstance.
Questions for the Best Home Method
- For whom would each alternative be the best choice?
- In what circumstances would each option be most successful?
- What type of person would benefit most from each choice?
- Which alternative is best suited to your own situation?
The 'What if ...?' Method
Explore various 'what if...?' scenarios to see how changes in circumstances might affect the attractiveness of each alternative.
Questions for the 'What if ...?' Method
- What if certain conditions change? How would each option fare?
- What are the best and worst-case scenarios for each alternative?
- How resilient is each option to unexpected changes?
- Which option remains attractive under most circumstances?
The Laziness Method
Analyze each alternative to understand the role of fear, greed, and laziness in the decision-making process. Identify the true motivating factors behind each choice.
Questions for the Laziness Method
- How does fear influence your consideration of each option?
- In what ways does greed impact your decision-making process?
- Is laziness making any option more appealing?
- What are the genuine motivations behind your choices?
The Easy Way Out Method
This method focuses on choosing the alternative that requires the least effort or is easiest to implement, emphasizing convenience and simplicity.
Questions for the Easy Way Out Method
- Which option seems the easiest to implement?
- What are the long-term implications of taking the easiest route?
- Does the easiest option also align with your goals and values?
- Could choosing the easy way out cause any unforeseen problems?
