General

MAKING SMART CHOICES

Chinyere Monye Written by Chinyere Monye · 1 min read >

Making Smart Choices

How to think about your whole Decision

Problem: A Proactive Approach

Making decisions is a fundamental life skill making good decisions in thus one of the most important determinants of how well you your responsibilities and achieve your personal and professional goals.

You can learn to make better decisions. The acronym for those PROACT serves as areminder that the best approach to decision situation is a proactive.

The eight elements of smart choices which are:

Problem                   

Objectives

Alternatives

Consequences

Tradeoffs

Uncertainty

Risk tolerance

Linked decisions

The three remaining elements –uncertainty risk tolerance and linked decisions –help clarify decisions in volatile or evolving environments. Some decision won’t involve those elements but many of your most important decisions will. The essence of the PrOACT  approach is to divide and conquer. To resolve a complex decision situation. You break it into these elements and  think systematically about each one focusing on those that are key to your particular situation .Then you reassemble your thoughts and analysis into the smart choice.

Eight keys to Effective Decision Making

  • Work on the right decision problem :To choose well you need to state your decision problems carefully acknowledging their complexity and avoiding unwanted assumptions and option –limiting prejudices
  • Specify your objectives : Your decisions should get you where you want to go. Thinking through your objectives will give direction to your decisions making.
  • Create Imaginative alternative: Your alternative represent the different courses of action  you have to choose from.
  • Understand the consequences: How well do your alternatives satisfy your objectives? The consequences of each alternative will help you to identify those that best meet  your  objectives –all your objective.
  • Grapple with your trade offs: your need to set priorities by openly addressing the need to set priorities by openly addressing the need for tradeoffs among competing objectives.
  • Clarify your uncertainties: Uncertainty makes choosing far more difficult. But effective decision making demands that you confront uncertainty, judging likelihood

Of different outcomes and assessing their possible impacts

  • Think hard about your risk tolerance: When decisions involve uncertainties, the desired consequence may not be the one that actually results.
  • Consider linked decisions: What you decide today could influence your choices tomorrow and your goals for tomorrow should influence your choices today.

The eight prOACT element provide a framework that can profoundly redirect your decision making enriching your possibilities and increasing your chances of finding a satisfying solution.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: