Join Mike Figliuolo for an in-depth discussion in this video Implementing the decision-making cycle, part of Decision-Making Strategies.
- As you look to implement this decision making process identify a decision you need to make, then prepare to make the decision, decide, communicate, execute, measure and adjust, because the more you apply this decision making process the more natural it's going to be. Learn the method and get comfortable with the concepts and tools before making really big decisions. Be sure you use all the tools, and involve the right people in your decision making process.
Remember first define the goal of the decision. What will success look like? What's the objective of the decision you're trying to make? Second, choose a style of decision making, whether it's autocratic, democratic, participatory, or consensus-based, and communicate that style to the relevant people in the decision making process. Use your RACI matrix, identify who's responsible, accountable, consulted and informed.
Tell them how they're involved in the process, or not involved in the process, set clear expectations. Be clear about the sources of ambiguity that you face, and how you're going to resolve that uncertainty. Whether you're in a situation of distinct possible outcomes, or complete uncertainty. Understanding where that uncertainty resides, and the information you can gather to reduce it will help you reduce your decision making risk.
Define the type of decision you're making. Is it a no downside, or a favorable odds? Understand what risks you're taking on, and what benefits you expect to get. Communicate the decision, let people know this is the decision we made, why we made it, and what we expect to see. Execute the decision, and measure your success. Once you've applied this decision making process to an actual decision go back and reflect, review your use of the process, and look at what went well, what didn't go well, which of the tools did you find to be insightful, what was really helpful as you used the process.
Were there particular steps that you spent that extra time on that got you a lot of impact? As you apply this method on a more regular basis you're going to find it's much more natural, and you're going to do it much more quickly. What you should ultimately find, if you're rigorous around using these tools, techniques and processes, you should find yourself making better decisions, making them more quickly, and having people be much more bought into the decision when you make it.
- Choosing a decision-making style
- Involving stakeholders
- Managing ambiguity and outcomes
- Reducing risk
- Communicating and executing decisions
- Measuring the results of decisions