Risk Analysis
Risk Analysis helps organisations to map the threats, following which possible suitable measures are taken. Read more about this powerful management tool.
Decision Matrix Analysis
The Decision Matrix Analysis is a simple answer to ensure that, when making the best decision, all these different factors are taken into account.
Linear Programming
Linear programming is a mathematical method to determine the optimal scenario. The theory of linear programming can also be an important part of operational research. It’s frequently used in business, but it can be used to resolve certain technical problems as well.
Monte Carlo Simulation
The Monte Carlo Simulation is a computer-operated technique in which a physical process is not simulated once, but many times. This way, possible risks in quantitative analysis and decision making come to light.
Blindspot Analysis
The Blindspot Analysis uncovers dangerous, incomplete, incorrect and outdated assumptions that can inhibit decision making within an organisation.
Cynefin Framework by Dave Snowden
The Cynefin Framework distinguishes five different contexts, making it easier for organisations to make decisions and to understand people’s behaviour.
Paired Comparison Method
Paired Comparison Method is a handy tool for decision making; it describes values and compares them to each other. It’s often difficult to choose the best option when you have different ones that are far apart.
Ladder of Inference
The Ladder of Inference provides insight into the mental processes that occur within the human brain. It describes the perception starting from senses to the series of mental steps that need to be taken to work towards an action.
What-If Analysis
A What-If Analysis is about looking at what happens when certain actions are taken. From the different scenarios, you then look at which results contributes most to the objective.
Prospect Theory
This article explains the Prospect Theory by Amos Tversky and Daniel Kahneman in a practical way. After reading it, you will understand the basics of this powerful Decision Making tool….