Decision Making is a process of making decisions among possible alternatives, and a risk taking judgment. The skills for the effective decision making is: recognise situations including a capability of organisation; create options or alternatives, identify and evaluate the possible consequences of each options; clarify and make a clear decision, and implement actions. Sequential Steps for the effective decision making (Source: Harvard Business Review): 1. Classifying the problem. 2. Defining the problem. 3. Specifying the answer to the problem. 4. Deciding what is “right,” rather than what is acceptable, in order to meet the boundary conditions. 5. Building into the decision the action to carry it out. 6. Testing the validity and effectiveness of the decision against the actual course of events. (Refer to the Problem Solving)
Related Definitions in the Project: The Project Management
