Projects stand or fall by the quality of their decisions, but this critical area gets less attention than it deserves, given how important it is to make good ones. What makes a good decision, and how can we get better at making them?
Decision Quality (DQ), also known as Quality Decision Management (QDM), relates to the quality of a decision when made, irrespective of its outcome. Decision quality provides a framework for evaluating decision problems effectively and efficiently. When properly implemented, DQ enables the maximum value to be captured in complex decision making, against a background of risk and uncertainty.
This presentation will describe the decision quality ‘circle’ of six basic elements and provide some insight of important considerations when negotiating the circle; the central role of the business in setting the frame and some real world experiences of where the circle has been broken.
The event will suit all types and levels of project professionals, including – but not limited to – project management, project engineering and project controls personnel. Members of the academic community and students of project management will also benefit from attending. In particular, the event will benefit those responsible for making key decisions in projects, for example project sponsors, project directors and project board members.
Attendees will gain a better understanding of why decision quality is important, what goes into making a decision and how we can improve our ability to make good ones. This will be supported by examples of decision making in real project contexts, to assist attendees in applying the learning once they return to their workplaces.