Decision Process

How to make better decisions?

In Decision-Making Villains,we have seen the difficulties to make wise decisions.

A decision is not just about the outcome, it’s about the process. A decision is a means to an end.
The good decisions often have “Procedural Justice”:

  • Give people a chance to challenge information
  • Use accurate information to decide
  • Explain why the decision is made
  • Listen to what people say 
  • Avoid bias and self-interest – Be candid about relevant risks and concerns

Tools for better decisions:

  • 10/10/10 for emotional sorting:
    • How will we feel for 10 minutes? 10 months ? 10 years? from now
    • Distance gives clarity
  • Give advice to others
    • Prioritize the most important factors in the decision
    • “What would I tell my best friend to do in this situation?”
    • Downplay short-term emotion – The goal is not to eliminate emotion in decisions, but to honor emotions that count.
  • Bookending:
    • Estimate two different scenarios: Dire and rosy
    • Look for businesses with a wide range of potential
  • Prospective Hindsight:
    • Work backward from a certain future
    • Gives better explanations why event might happen
  • Premortem:
    • Imagine the future “Death” of a project, and ask “What has killed it”? 
    • Testing decisions
  • PreParade:
    • Consider unexpected success
    • “How do you ensure you are ready for success?”
  • Tripwire:
    • Signals that would snap you awake at the exact right moment, compelling you to reconsider or make a new decision
    • Set a deadline 
    • Jolt you from unconscious routine and make you aware you have a choice
  • Bargaining
    • Art of compromise
    • When multiple parties disagree, they horse-trade until they find a solution most people can live with

Lastly, Humility in predicting the future is critical for good decisions.

From Decisive

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