Cover for Smart Choices - A Practical Guide to Making Better Decisions

Smart Choices - A Practical Guide to Making Better Decisions

John S. Hammond, Ralph L. Keeney, Howard Raiffa

Summary

Key Facts and Insights from "Smart Choices"

  1. The decision-making process is a discipline that can be learned and improved upon.
  2. A structured approach to decision-making can lead to better outcomes.
  3. PrOACT is a model that outlines the process: Problems, Objectives, Alternatives, Consequences, and Trade-offs.
  4. Clarifying the decision problem is a crucial step in the process.
  5. Identifying and clearly articulating objectives help guide the decision-making process.
  6. Creative generation of alternatives broadens the range of potential solutions.
  7. Understanding the consequences of each alternative is essential.
  8. Trade-offs are inevitable and must be managed carefully.
  9. Risk and uncertainty play a pivotal role in...

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