Decision-Making � PAGE �3�
Decision-Making Models
Heather Pagington
University of Phoenix
MMPBL/500 - Foundations of Problem-Based Learning
Dr. Dan L. Sirmans
September 1, 2008
Decision-Making Model Paper
What is your experience with decision-making models?
My experience with decision-making models includes several models. I have used a variety of decision-making tools, including PMI, SWOT, CBA, and Decision-Trees. These tools are crucial for making good decisions.
PMI
PMI is the Pro's versus Con's. I have used this tool for the last four years of my career at Ceridian. It helps to see the rational behind a problem rationally, without the distractions from emotion or ego.
SWOT
SWOT stands for strengths, weaknesses, opportunities and threats. The strengths and weaknesses are used to analyze internal status. The opportunities and threats are used to analyze the external status. I have used this tool in working with our sales department in determining which of our markets certain products would sell in, what the weaknesses are, opportunities to pursue, and threats to strengthen our company against.
Decision Making Chart
Simplyfied example: Decision Trees can improve inv...
Decision Tree branch for the informationThis model has also been used in order to help in making a decision regarding a specific software program or a new platform. This was not the only model used but assisted in making the decision along with other tools.
CBA
CBA stands for cost / benefit analysis (Mitchell & Kaowalik, 1989). This is a requirement for any major corporate decision. I have seen projects fail because a CBA was not done in the beginning. Without a full comprehension of the human-resource, equipment, and inventory costs involved, projects will fail.
Decision-Trees
Decision-trees are designed to help managers map the outcomes of every decision. My experience with decision-trees was in working with our training department to create customer service manuals and training manuals for a specific platform and product. This reduced...