IT leaders struggle with decision-making all the time.
Here are 3 lesser-known decision-making techniques:
1. Pareto Analysis:
Pareto Analysis is based on the 80/20 rule, suggesting that roughly 80% of effects come from 20% of causes. In decision-making, this means identifying the most significant factors or issues contributing to a problem.
How to use it:
→ Identify Issues: List problems.
→ Rank by Impact: Evaluate and rank by impact.
→ Focus on Top 20%: Tackle the top 20% first.
2. Delphi Technique:
The Delphi Technique involves obtaining input from a group of experts anonymously and iteratively. It aims to reduce bias and achieve consensus among experts with diverse perspectives.
How to use it:
→ Expert Input: Select relevant experts.
→ Anonymity: Keep responses anonymous.
→ Iterative Feedback: Collect and iterate.
→ Consensus Building: Repeat until consensus.
3. Cost of Delay:
The Cost of Delay technique involves assessing the cost associated with delaying a decision or action. It helps prioritize tasks by considering the negative consequences or costs of postponement.
How to use it:
→ Identify Tasks: List tasks.
→ Evaluate Delay Costs: Assess costs of delay.
→ Priority Setting: Prioritize high-cost tasks.
→ Timely Action: Address high-cost tasks promptly.
Decision-making can be tricky, but following proven techniques consistently proves to be a guiding light.
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