Decision Making by AliFahad

04/18/2023 03:10 AM Decision Making/ Ali Fahad 1

Presenter

Ali Fahad

2011-ME-337


Decision Making Thoughts, Ideas and

Practice 04/18/2023 03:10 AM Decision Making/ Ali Fahad 3

Decision

• A decision is the selection between possible actions. A choice is the selection between two or more objects.

• A choice made between alternative courses of action in a situation of uncertainty.


Definition

• Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternative scenarios. Every decision making process produces a final choice.

• An Action with an intention of producing favorable outcome.


Description

• Every body in life has to make some decisions in order to reach some conclusion.

• Decision exerts lasting effects on our life.• Buy a car or buy a home.• If you are in charge then decision making is

more important for you.


IdentifyProblem

DefineObjectives

IdentifyAlternative

s

EvaluateAlternative

s

ImplementSolution

MonitorSolution

VerifySolution

7 StepsForDecisionMaking


1) Define the problem

• Define the real problem, issue, concern or decision to be made.

• What are you deciding and why?• Don’t trust what is visible.• Find out what's below the water line.• Spending time at this stage will prevent the

problem from reoccurring in the future.


2) Look at the causes of Problems and defining

objectives• It's amazing how much you don't know about what you don't know. Therefore, in this phase, it's critical to get input from other people who notice the problem and who are effected by it.

• Write down what your opinions and what you've heard from others.

• Write down a description of the cause of the problem and in terms of what is happening, where, when, how, with whom and why.


3) Identifying Alternatives

• Once objectives are specified next step is to generate alternatives.

• Generate maximum alternatives.• Be creative and positive.• Ask "what if" questions.

Methods for developing alternatives:• Brainstorming is collecting as many ideas as possible,

then screening them to find the best idea.


4) Evaluating AlternativesWhen selecting the best approach, consider:• Which approach is the most likely to solve the

problem for the long term?• Which approach is the most realistic to accomplish

for now? Do you have the resources? Are they affordable? Do you have enough time to implement the approach?

• What is the extent of risk associated with each alternative?


5) Plan the Implementation

• Carefully consider "What will the situation look like when the problem is solved?"

• What steps should be taken to implement the best alternative to solving the problem?

• How will you know if the steps are being followed or not? (these are your indicators of the success of your plan)


5) Plan the Implementation(Contd…)

How much time will you need to implement the solution? Write a schedule that includes the start and stop times, and when you expect to see certain indicators of success. Write down the answers to the above questions and consider this as your action plan.

Communicate the plan to those who will involved in implementing it and, at least, to your immediate supervisor.


6) Monitor the Implementation of Plan

Monitor the indicators of success:• Are you seeing what you would expect from the

indicators?• Will the plan be done according to schedule?• If the plan is not being followed as expected, then

consider: Was the plan realistic? Are there sufficient resources to accomplish the plan on schedule? Should more priority be placed on various aspects of the plan? Should the plan be changed?


7) Verify the Solution

One of the best ways to verify if a problem has been solved or not is to resume normal operations in the organization. Still, you should consider:• What changes should be made to avoid this type of

problem in the future? Consider changes to policies and procedures, training, etc.

• Lastly, consider "What did you learn from this problem solving?" Consider new knowledge, understanding and/or skills.


DMS• Decision-making software: DMS is based on multi-criteria decision analysis (MCDA)

and its varieties such as Analytic Hierarchy Process (AHP), analytic network process (ANP — extension of AHP), PROMETHEE, multi-attribute value theory (MAVT), multi-attribute utility theory (MAUT), multi-attribute global inference of quality (MAGIQ), potentially all pairwise rankings of all possible alternatives (PAPRIKA).

1. Decide IT2. Decision Labs3. DPL4. Logical Decision5. 1000 Minds6. Analytica


Thank You


Education

Decision Making by AliFahad