3 lesser-known decision-making techniques

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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Ron Salazar