MBA INFORMATION MANAGEMENT THESIS RESEARCH PROJECT  Decision making techniques in the selection process                     

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Pareto Analysis

Pareto analysis is a very simple technique that helps you to choose the most effective changes to make.

It uses the Pareto principle - the idea that by doing 20% of work you can generate 80% of the advantage of doing the entire job. Pareto analysis is a formal technique for finding the changes that will give the biggest benefits. It is useful where many possible courses of action are competing for your attention.

 

 

Paired Comparison Analysis

Paired Comparison Analysis helps you to work out the importance of a number of options relative to each other. It is particularly useful where you do not have objective data to base this on.

This makes it easy to choose the most important problem to solve, or select the solution that will give you the greatest advantage. Paired Comparison Analysis helps you to set priorities where there are conflicting demands on your resources.

 

 

Grid Analysis

Grid Analysis (also known as Decision Matrix analysis or Pugh Matrix analysis) is a useful technique to use for making a decision. Decision matrices are most effective where you have a number of good alternatives and many factors to take into account.

The first step is to list your options and then the factors that are important for making the decision. Lay these out in a table, with options as the row labels, and factors as the column headings.

 Next work out the relative importance of the factors in your decision. Show these as numbers. We will use these to weight your preferences by the importance of the factor. These values may be obvious.

 

 

Cost/Benefit Analysis

Cost/Benefit Analysis is a relatively simple and widely used technique for deciding whether to make a change. As its name suggests, to use the technique simply add up the value of the benefits of a course of action, and subtract the costs associated with it. Costs are either one-off, or may be ongoing. Benefits are most often received over time. We build this effect of time into our analysis by calculating a payback period. This is the time it takes for the benefits of a change to repay its costs.

 

 

       
Decision Tree Analysis Decision Trees are excellent tools for helping you to  choose  between several courses of action. They provide a highly effective structure within which you can lay out options and investigate the possible outcomes of choosing those options. They also help you to form a balanced picture of the risks and rewards associated with each possible course of action. You start a Decision Tree with a decision that you need to make. Draw a small square to represent this towards the left of a large piece of paper.
From this box draw out lines towards the right for each possible solution, and write that solution along the line. Keep the lines apart as far as possible so that you can expand your thoughts

 

 

PMI PMI stands for 'Plus/Minus/Implications'. It is a valuable improvement to the 'weighing pros and cons' technique used for centuries.
PMI is an important Decision Making tool: the mind tools used so far in this section have focused on selecting a course of action from a range of options. Before you move straight to action on this course of action, it is important to check that it is going to improve the situation (it may actually be best to do nothing!) PMI is a useful tool for doing this.

 

 

Force Field Analysis

Force Field Analysis is a useful technique for looking at all the forces for and against a decision. In effect, it is a specialized method of weighing pros and cons.
By carrying out the analysis you can plan to strengthen the forces supporting a decision, and reduce the impact of opposition to it.

 

 

Six Thinking Hats

'Six Thinking Hats' is an important and powerful technique. It is used to look at decisions from a number of important perspectives. This forces you to move outside your habitual thinking style, and helps you to get a more rounded view of a situation

 

 

 

     

I Was Personal involved in a DCS Selection Process

Others Models I use

 

Willem D. Hazenberg.
Copyright 2006 Willem Hazenberg Newport International University. All rights reserved.
Revised: 09-nov-2006 15:59:54

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18-10-2009            Hit Counter