DECISION MAKING TECHNIQUES
There are 3 main categories of Decision Making Techniques:
- Decision Making Using Method of CHANCE
- Decision Making Using Method of ANALYSIS
- Decision Making Using Method of INTUITION
I. METHOD OF CHANCE
Chances are LTD: Lottery Toss Dice
Sometimes, what is important is to decide quickly or let it to
luck. In some cases, analytical method of decision making can
even be illogical or impossible. For example, in various
game-matches, we rely upon this method. This method can also be
used to decide when the consequences of the decision are not
important or immaterial. If the choices we are of equal rank.
This is the only way left.
Method of Lottery
In this, each choice is first written on a different identical
but small piece of paper. Then these pieces of paper are either
folded or rolled up so that what was written on it is not
visible. It is now mixed up and someone is allowed to take one
from it. The choice given in this piece of paper is decided.
Coin Tossing (Head or Tail Method)
This is one of the simplest and easiest methods of decision
making. It is applied when there are only two choices which have
the almost the same importance to the decision-maker. If head
turned up when the coin is tossed, you decide on one thing and if
tail turned up you decide on the other thing.
If there are six choices of almost equal importance and if
there is no need to resort to serious analytical methods, this
method is followed. Assign each choice to each of the six faces
of the die. Now toss the die and decide accordingly.
METHOD OF ANALYSIS
You need to make
a FIBER analysis.
FGL : Fear Greed Laziness
Ideal Solution Method
Best Home Method
Easyway Out Method
Read out/Spell out method
This is the most
practical and most used decision-making method. It involves a
detailed analysis of all the available info, choices,
characteristics of the decision, context of decision, problem
type, time available etc. In this method, the choice that is
found rational or logical is selected. The criteria values &
priorities we have is the governing factor here.
The FGL Method
The FGL method
is based on the fact that the decisions we make depend on
fear, greed, and laziness. It helps the decision-maker to get
insights into himself because it reveals how much these three
factors have influenced him in his decision and gives him a
chance to reevaluate his decisions. In this method, you first
number down all the possible choices and see how much these
factors affect each of the choices. Then you could select one as
per your requirements.
Solution Method creates an ideal criterion for the decision for
the decision first. Now, make a list of choices. Taking one item
from the list at a time, the decision-maker compares it with the
ideal solution. The choice that is more nearer to the ideal
solution is made.
Best Home Method
looks for the vest fit of the idea to the situation or
environment or context or background. The environment or
background that helps to develop or improve the idea is the best
place for that idea. In other words, an idea & its
environment should be mutually fit.
Easy Way Out
action on the decision is more important than making the very
best possible decisions, this method is used. We make decisions
to act upon them. So in this method, such decisions that are easy
to implement are made. This does not mean that you decide upon
the easiest choice. The choice is to pass the test of the
criteria you have or it should bring desired results. In this
method, the easiest one among these choices are selected, which
can be easily implemented.
Readout or the
Spell out Method
In this method,
you take the choices one by one and read out or spell out why you
decide on a given choice. Write these down. Then read then again
one by one and decide on the best choice.
METHOD OF INTUITION
At times, we
depend upon our intuition or gut feelings for making a decision.
When the problem is very complex and complicated, analytical
methods of decision making cannot solve it. In such cases, we
rely upon our sub-conscious mind. Most of us get such intuitions
through our dreams. Many inventions & scientific theories
were revealed to inventors and scientists through their dreams.
The invention of the sewing needle, the finding of the structure
of DNA etc. are only a few of them.
Procedure for Using Intuition for Decision Making or Problem
- collect all
available info about the problem
detailed analysis of the problem based on these info
everything down in a piece of paper
- before you
go to bed, read the piece of paper once or twice
- sleep calmly
without thinking of anything else
When you sleep,
your sub-conscious mind will evaluate the choices and most
probably arrive at a suitable solution. This solution may be
communicated to you through your dreams or it will come to your
consciousness suddenly when you woke up the next day.
communication between your conscious mind and sub-conscious mind,
the more chances are there to get a solution through intuition.
for this page taken from Edward De Bonos Writings. Rights
and Copyrights acknowledged.
Go to Edward
De Bonos Site
His Book on Decision Making