– Description:Evaluates Strengths, Weaknesses, Opportunities, and Threats for informed decision-making.– Usage:Common in business planning and organizational strategy.
1
COST BENEFIT ANALYSIS
– Description:Weighs the costs against the benefits of different options to determine the most favorable choice.– Usage:Widely employed in project management and financial decision-making.
2
DECISION MATRIX
– Description:A systematic tool that evaluates options based on multiple criteria, assigning scores to facilitate comparison.– Usage:Useful in complex decision scenarios requiring a quantitative approach.
3
PARETO ANALYSIS
– Description:Focuses on the most significant factors contributing to a decision, emphasising the "80/20" rule.– Usage:Prioritizes efforts in problem-solving and resource allocation.
4
SIX THINKING HATS
– Description:Edward de Bono's approach involves considering decisions from six different perspectives, fostering diverse thinking– Usage:Promotes creativity and comprehensive analysis in group decision-making
5
The Eisenhower Matrix
– Description:Categorizes tasks into Urgent/Important, guiding prioritization and time management. – Usage:Effective for personal and professional decision-making
6
Scenario Planning
– Description:Anticipates and plans for different future scenarios, helping organizations prepare for uncertainty.– Usage:Strategic decision-making in dynamic environments.
7
The Cynefin Framework
– Description:Divides problems into categories (Simple, Complicated, Complex, Chaotic) to guide appropriate decision-making approaches. – Usage:Useful in understanding the nature of problems and tailoring responses accordingly.
8
The OODA Loop
– Description:Observe, Orient, Decide, ActDeveloped for military strategy, it emphasizes rapid decision-making cycles for agility.– Usage:Applied in dynamic and competitive environments.
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The Decision Tree
– Description:A graphical representation of decision options and potential outcomes, assisting in risk analysis.– Usage:Common in finance, project management, and complex decision scenarios