Decision Making

Harness the power of decision making in your organisation! Learn the latest models and techniques of decision-making.

This workshop is designed for you to learn how to solve problems and make decisions currently facing your organisation. The workshop starts with the basics of decision-making, and proceeds to cover advanced techniques, real-world case studies, model building and more.

Making decisions is something we do everyday. In fact, every rational act is the result of a decision. Of course, many of our decisions have relatively little or no effect on our lives. But there are decisions of great importance and which have both long and short-term consequences on us.

The quality of our decisions depends on two factors:

• The availability of information relating to the decision, and

• The quality of our judgment

If relevant information is available, the decision making process is easier. But the difficulty increases when there is little or no information. In this case we have to rely more and more on our own judgment, and in this event, the quality of our judgment depends to a large extent on the values we believe in.

This program will help you learn to generate a greater number of solutions to problems and to weight alternatives carefully. Learning to think creatively about problems, and then make appropriate decisions, helps to increase one's general effectiveness to achieve successful outcomes. Implementing systematic procedures into the problem-solving and decision-making process will be an important focus of this program.

Decision Making is a ‘life skill’ used constantly by everyone... but most people cannot describe the process they use to solve everyday problems! In this workshop we discuss a variety of problem solving techniques, present a few exercises, which demonstrate the need to stand back and resist “leaping in”, and put in place a structured approach as an aid to finding effective solutions for all types of problem.

 Course Contents

• What is decision making?

• How we make decisions?

• Decision theories

• Analytic and intuitive decisions

• Decision space

• Types of decisions

• Models of decision-making

• Qualitative and quantitative decisions

• Human judgments

• Biases in human judgments

• Steps in making decisions

• Single criteria and multi criteria decisions

• Multi Criteria Decision Making (MCDM)

• Decision Matrix Method

• Introduction to Analytic Hierarchy Process (AHP)

• Pair comparison

• Consistency

• Transitivity

• Real examples of decision making

• And much more …

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Who Should Attend This Course?

The course is aimed at decision makers on various levels: investors, consultants, group leaders, company directors and other professionals who need to understand how quality and effective decisions can be achieved.