Feasibility Studies, Comprehensive evaluation of a project or business proposal to determine if it is viable and risks are manageable, Cost-Benefit Analysis, estimate the costs and benefits of projects or investments to determine their profitability for an organization, Decision Trees, A mathematical model used to help managers make decisions when faced with choices., Decision Matrix Analysis, Compare options against weighted criteria., Pros and Cons Matrix, Simpler, qualitative method. Most basic form of a decision matrix., Root cause analysis, To identify a problems main contributing factors, Fishbone Analysis, Define categories of potential causes and join them to the centreline, 5 Whys, In this method, any question will form the basis and foundation for the next question., Interrelationship Diagram, A visual method that maps out the causal links between different elements of a problem., Appreciative Inquiry, Focus on practices that are positive, life-affirming, successful and full of opportunity, Lateral Thinking, creative reasoning rather than traditional step-by-step logic
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Decision Tools and Problem Solving
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