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In any situation where you need to make a critical decision, there is always some level of risk – whether you’re working on an internal reorganization or considering a multi-billion dollar acquisition – something unexpected can happen that significantly changes the course of events and the final outcome. But there are tactics that can be taken to minimize the potential downside, no matter how grand or simple the task at hand. Which leads to the question -- are you confident that you are prepared and have played out enough “What If” scenarios in your decision-making analysis? If not, consider these critical questions:

• Did you compile all the necessary data and conduct a proper analysis of what was presented?
• Did you and your team brainstorm and troubleshoot all the possible outcomes?
• Have you carefully considered all the possible unknowns?
• Do you have real experts involved – people that are truly knowledgeable about the potential events and conditions?
• Is your company using valid and reliable decision-management techniques?
• Are you just going with your gut or using general rules of thumb, rather than strategic analysis of the data, scenarios, and potential risks that have been determined?

These are just a few of the areas where it’s critical to dig, probe, ask questions, gather more data, and thoroughly consider every possible outcome and roadblock before making a decision and charting a path forward. But once you do, you will have the confidence and conviction that your decision – and your strategy – is tight, and the course of action selected is the right one.

      categorized under:  Decision Making Analysis, Risk Mitigation, What If Scenarios, Decision Management