All 2 entries tagged Rdm

'Knowledge is the life–blood of effective decision–making'

Trying to summarise my reflections about the learning points of RDM, and after have read some literature about the decision making process beyond the tools and techniques available to support it, I have reached the conclusion that indeed, knowledge is the keystone of any decision making process, never mind if the problem or situation we are addressing is simple or very complex.

We have seen how powerful and useful DM’s techniques such decision trees, AHP, SMART and so forth are and how they have been designed to include all the different aspects that any decision problem could have, you can adapt the tool according the situation and its particular characteristics. However from my point of view, those techniques are useless if we as decision makers we don’t feed them with the meaningful and reliable information, if the people involved in the process doesn’t have the enough knowledge to address the situation to logical interpret analyze the problem, identify the risks, uncertainties and determining their complexity to appropriate choose the tool and finally when the decision is made, commit to action to implement it.

So knoweldge is everywhere, and as our KBAM web page said, ...is the life-blood of effective decision-making’

: 01 May 2011 00:07 |  Tags: Rdm |  Comments (2) |  Close comments |  Report a problem

Good decison is not neccesarily good outcome

Robust decisions are based in good decision analysis, we cannot think that decision making as a process is the same that decision trees analysis or grid analysis or any other methodology; therefore we cannot compare the process with the tool or the technique.

The tools that are available to analyze the decision problems have been designed to help the decision maker to see and understand the big picture of the situation including any potential risk, the complexity of the situation as its dynamic, and not to base his/her decision in a basic judgment. (Matheson J.E 2005)

However I think that when we choose one of those tools to analyze the decision problems, in one way we are using our judgment about the tool, like for example, if the information that i have available of the problem, include probabilities so Decision trees would be a good tool to use, and so forth; and from that point of view maybe we are missing some important elements of other tools.

The point would be then,  that regardless a good or bad outcomes, we can  make good decisions, Using of course  tools and methodologies,  taking into consideration risks, uncertainty or any fact that impact the problem we are analyzing, also involving people who has the knowledge of the situation and finally but not less our own judgment.

: 21 Apr 2011 00:55 |  Tags: Rdm |  Comments (1) |  Close comments |  Report a problem