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Business, Pages: 2

An analytical decision-making technique

An analytical decision-making technique

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Decision-Making Technique Effectiveness or Efficiency Rationale for Use Real Worl Example
 

 

Brainstorming

 It can be increased by clearly defining the problem or goal to use questions to help stimulate creative thinking (Silvius et al., 2017). It is important to have a group of people from different backgrounds and experiences brainstorm together to be effective because more ideas are generated when there are a variety of perspectives involved in the process. It can be a fast and efficient way to generate ideas. It also allows for group input and buy-in, which can be helpful when trying to implement a decision. A company is considering a new product line and wants to brainstorm product ideas. They assemble a group of people from different company parts, including marketing, R&D, and sales. Together, they come up with several ideas, like bundling it with complementary products.
 

 

Multi-voting

 It also allows for diverse opinions to be included, which can help organizations make better decisions. It provides more information than brainstorming alone by allowing each member to vote once on their preferred solution. It also reduces the time it takes to decide because each member already provides input by voting. A company wants to decide which product line they should expand into next and has several options that different teams within the organization have proposed Silvius et al., 2017). They assemble a group of people from across the organization, including marketing, R&D, and sales. They use a multi-voting process where each person votes on their preferred option without knowing the other options that are also being considered.
 

Delphi Method

 

 It can be increased when different levels of decision-making need to happen (Wang et al., 2018). It also allows for a more in-depth analysis of each possible solution. It can provide a well-rounded view of all potential solutions by getting input from multiple subject matter experts. It also takes the emotion out of decision-making by removing the need for face-to-face communication. It also reduces the time spent by having each person only provide input once. The company decided to use the Delphi method because they have different levels of decision-making that need to happen. They assemble a group of people from across the organization, including marketing, R&D, and sales. Participants are given a questionnaire for each round with several questions about which option should be pursued for the product line expansion. Participants must answer all the questions before moving on to the next question. After all the questions have been answered, they discuss the results as a group and agree on which option should be pursued.
 

 

Norming Group Technique

 It allows for everyone to contribute ideas and be heard. This also makes it easier for the group to develop a consensus decision, reducing conflict between members Silvius et al., 2017). It can be a fast and efficient way to generate ideas. It also allows for group input and buy-in, which can be helpful when trying to implement a decision. The company decided to use an expert judgment technique because they already have a clear definition of the problem that needs solutions created within certain criteria before moving forward (Wang et al., 2018). They assemble a group of people from across the organization, including marketing, R&D, and sales. They give each participant a list of criteria to judge the options against and ask them to rank each option. After all the participants have submitted their rankings, they discuss the results as a group and agree on which option should be pursued.

References

Silvius, A. G., Kampinga, M., Paniagua, S., & Mooi, H. (2017). Considering sustainability in project management decision making; An investigation using Q-methodology. International Journal of Project Management, 35(6), 1133-1150.

Wang, L., Peng, J. J., & Wang, J. Q. (2018). A multi-criteria decision-making framework for risk ranking of energy performance contracting project under picture fuzzy environment. Journal of Cleaner Production, 191, 105-118.

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Question 

If what you are considering does not result in a decision, it is not a decision process or technique. A decision process or technique is repeatable and describes HOW a decision will be made, not WHO makes it.

An analytical decision-making technique

An analytical decision-making technique

For example, an idea-generating technique such as brainstorming is not a decision technique. An analytical technique (Pareto, SWOT, Cost-benefit analysis, etc.) is not a decision technique. Describing the number of people involved and the level of their involvement (Decision continuum) is not a decision technique. The outcome of a decision process or technique is that a decision has been made.

You may need to research beyond the text to identify four distinct decision-making processes or techniques.