Effective Decision Making

One of the primary characteristics of great leaders is decisiveness. Leaders are continuously called upon to make decisions that will impact the organization. Often times it is necessary to arrive at these decisions quickly and thoughtfully.

In addition, effective leaders understand when to take more time and gather additional information and when to stop gathering information and render a decision. Effective decision making is both a science and an art.

Research suggest that we often make decisions through the use of Heuristics. A heuristic is a mental shortcut that allows people to solve problems and make judgments quickly and efficiently. While Heuristics are valuable in many situations they can also lead to cognitive bias.

Many leaders use strategic models as they learn to master the decision-making process. One such model is the PrOACT model developed by John Hammond, Ralph Keeney, and Howard Raiffa.

PrOACT is the acronym for:

·         Problem – clearly defining the problem

·         Objective – clarify what you are really trying to achieve

·         Alternative – make better choices by creating better alternatives

·         Consequence – define the impact of each alternative on the objective

·         Tradeoff – make compromises when you cannot achieve all objectives at once

While not every decision needs this type of model, practicing with the small decisions will better prepare you when it is necessary to make a more significant one.

Warmest regards,
The “Millennial LeaderShaping Coach”

PS - If you are located in the RTP area and would like to learn more on this topic, join us for this free Leadership Development Workshop at the RTP Frontier!

FUSION | FRONTIER 800 | 800 PARK OFFICES DRIVE, RTP
JUL 25 1:30 PM - 2:30 PM