Hammond, Keeney, and Raiffa describe in their book an approach designed to help you make the best possible choice. They call it the PrOACT approach, and it addresses eight keys to effective decision making. Those keys are:
- Work on the right decision problem. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Specify your objectives. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Create imaginative alternatives. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Understand the consequences. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Grapple with your tradeoffs. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Clarify your uncertainties. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Think hard about your risk tolerance. Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Consider linked decisions.
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Roman","serif"; mso-fareast-font-family: "Times New Roman";”>ASSIGNMENT
Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>: Report on Stakeholders
Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>Select a current article from the news about a decision.
Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>Required Elements to include in the Report on Stakeholders:
Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>provide an overview of the article;
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>define the decision problem;
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>identify the stakeholders and define their interests;
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>assess the stakeholders’ potential impact on the decisions;
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>assess the potential impacts of the decision on the stakeholders. It is acceptable to use your imagination about stakeholders’ reasoning;
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>Finally, in the role of the decision maker, explain how you would accommodate the stakeholders’ interests and minimize the impacts on less powerful stakeholders.
- Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";”>Use APA formatting for in-text citations and and a reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary.
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