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Decision Analysis for the Perplexed, Overwhelmed, and the Curious

Friday,
June 19, 2020
Time:
10:00 AM PDT | 01:00 PM EDT
Duration:
60 Minutes
Webinar Id:
703075
Register Now

Live Version

$145. One Participant
$295. Group Attendees

Recorded Version

$195. One Participant
$395. Group Attendees

Combo Offers

Live + Recorded
$289 $340   One Participant

Live + Recorded
$599 $690   Group Attendees

Group Attendees: Any number of participants

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

HRCI

The use of this seal confirms that this activity has met HR Certification Institutes (HRCI) criteria for recertification credit pre-approval.
This activity has been approved for 1 HR (General) recertification credit ...more


HSRM Viewing this webinar, its entirety qualifies for a recertification credit hour that may be counted toward SHRM-CP and SHRM-SCP recertification from SHRM. Credit is awarded based on the actual educational time spent in the program. ?
1-hour educational program = 1 PDC.
1-hour and 15 minute concurrent conference session = 1.25 PDCs.
3-hour e-learning course = 3 PDCs.
Overview:

Introduction Within this section an interaction is used to explore six basic concepts at work within DA. While the science of DA can be daunting the focus of this section and of the webinar in its entirety is practical. The focus will be on application and not on rote memorization of concepts!

Bottom line: Decisions are rarely made under conditions of certainty. We routinely make decisions with imperfect knowledge and where a degree of risk exists. The value of DA is that it can help us manage risk while offering a data-driven approach to decision making!

Organizational Barriers When neglected, decision analysis can become less analytical and more of an exercise in organizational politics. As observed by Garvin and Roberto (2015), there are many negatives organizational consequences when DA is less characterized by critical thinking and more by persuasion and lobbying.

Outcomes gravitate away from a systems approach striving for collective ownership of problem solving and potential win-win solutions toward a binary output of winners and losers.

Internal Barriers Bias can also act as a barrier to decision analysis. As noted by Jesse Richardson, author of the website Your Bias Is, "cognitive bias means there’s a kind of misfiring going on causing us to lose objectivity." Several biases will be explored in this section; recommendations for overcoming these barriers will also be discussed.

The Matrix One quick way to add structure to your decision analysis is through the introduction of a matrix. Perhaps the most basic is the so-called "T" matrix. The idea is to list the factors in favor of an idea on one side and the opposing ideas on the other. But most of our issues are for more complex than can be adequately treated in two columns. Enter the decision matrix!

According to the ASQ Quality Resources page on decision matrices, a decision matrix should be used when:
  • A list of options must be narrowed to one choice
  • The decision must be made on the basis of several criteria
  • A list of options has been reduced to a manageable number by list reduction

Time permitting, a scenario will be used to illustrate how structure can add value to decision analysis within a group setting.

Resources Templates, web resources, and suggested additional readings will be provided to attendees.

Why should you Attend: The point of our efforts is often reducible to a decision. There may be one over-arching choice or perhaps many incremental decisions but making good decisions can make or break our efforts.

While we are trained very well in the tools of our trades, the exploration of a structured approach to decision analysis (DA) is not as common. The value of our outputs mandates at least a cursory understanding of DA such that the decision or decisions themselves are as meaningful as the data upon which the decisions rest!

Areas Covered in the Session:
  • Decision analysis - basic terms Basic concepts such as decision, uncertainty, outcome, value, probability, and risk will be defined. In addition a timeline illustrating the history and advancements made within DA will be offered
  • Decision analysis - external barriers Using the distinction made by Garvin and Roberto, a contrasting of the advocacy and inquiry approach will be made to show the value of a structured and collaborative approach to decision making. An infographic will be provided
  • Decision analysis - internal barriers The role of bias and how to address and hopefully mitigate bias in decision analysis will be explored. An interaction and infographic will be provided
  • Decision analysis - using a matrix Two related and simple tools for DA will be introduced. Templates will be provided

Who Will Benefit:
  • Auditors
  • Compliance Professional
  • Legal
  • Trainer
  • HR
  • Management
Instructor:

Dr. Kurt Stuke has over 20 years of experience within the quality, process improvement, operational excellence, and leadership fields. Kurt holds a doctorate in leadership as well as master degrees in philosophy and theology. He is an adjunct faculty member at New England College, S.N.H.U., the Community College System of New Hampshire and works as a corporate trainer as well.

Topics explored include: ethics, organizational leadership, corporate social responsibility, auditing, Lean, six sigma, servant leadership, and quality management. He has a passion for finding creative ways to drive positive change.

Recent publications may be found in the Journal of Quality and Participation, the Open Journal for Business & Management, the ASQ Lean Division Newsletter, the ASQ Audit Division Newsletter, and, most recently, in the Lean ezine Perspective. Recent speaking engagements include the Lean and Six Sigma World Conference, the Quality Show, the ASQ World Conference, BOSCON, the NECQ, and more


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