Two Techniques for Better Decision Making
The first decision-making tool is WCCA, which requires forward thinking and analysis of potential consequences. WCCA asks you to answer three questions about the consequences of each decision:
· What is the worst possible outcome?
· How likely is that outcome?
· Is this an acceptable risk?
Though these three questions may seem lengthy, your analysis takes only seconds. You don’t need pen and paper—just use your mind to make deliberate choices. As you apply the WCCA strategy to evaluate your options, hidden downsides come to light, allowing you to identify alternatives and easily eliminate unfavorable choices.
To use a weighted decision matrix, you need at least two options—the more, the better.
Take out a pen and paper. Draw N columns on your paper—one labeled “Factors” and the rest labeled with your options. For each factor, assign a weight from 1 to 10 based on importance (10 being the most critical), and write the number next to that factor. Then score each option, multiply each row’s score by its weight, and record the result in parentheses beside it. Each option will have a total weighted score—use those scores to make your choice.