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Decision-Making

Losing Your Decision-Making Bias Is Harder Than You Thought

Bias underscores many of our actions and the actions of businesses in often imperceptible ways. Acknowledging that bias exists is important, but that in itself is not enough to actually reduce its presence. In an article for McKinsey, Tobias Baer, Sven Heiligtag, and Hamid Samandari describe specific processes by which you can “debias” various types of decisions in business. Blind Spots of the Brain The strategies commonly employed to reduce bias in decision-making right now …

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Decision-Making under the Influence: SME, HiPPO, and BOGSAT

The most significant driver of cost and schedule risk in any project is indecision. While most projects can absorb a few bad decisions or even course-correct without a hitch, delaying a decision almost invariably creates damage. Agile practitioners will typically defer decisions until required to move forward so that the Decider has as much information as possible, but a lack of information isn’t always—or even usually—the problem. Sometimes the Decider just doesn’t feel empowered, and …

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Don’t Overthink It: 5 Tips for Daily Decision-Making

All other career wisdom aside, one fact remains indisputable – productivity improves with better decision-making. Although there are no universal rules-of-thumb to help professionals make better decisions, Jocelyn K. Glei of 99u offers five insights to help us develop our determinations. Five Optimal Insights “Satisficers” vs. maximizing The “best” criteria Strategic vs. expert Experience of others Tricked by the trivial Satisficing decision-makers tend to exit the decision-making process as soon as their criteria are met. …

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