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