Decision-making

Oct. 15:

Which one of these 4 decision making tools will help us in the long run.

• Opportunity cost
  • Will be used mostly for big decisions like deciding what project we are going to do for our project. 
•  Decision tree
•  Gantt charts
  • Will probably be used more times than opportunity cost but for smaller things to figure out timelines while working on our project.
•  morals/values

Did using these tools change the way that you think differently about decisions? 

• Learning these tools makes me think about what could be lost not only what can be gained. In the case of thinking about jobs in the future – if there is a job available to work on an oil rig and make a lot of money, there is also the loss of a normal life. 

Are any of them challenging to use or apply?

• None of them are really challenging – the most challenging is gantt chart. Understanding the timeline – where they have to be located on the chart. Now that we have done it once and made mistakes – it is easier to understand that you really need to focus on the timeline and where to put it in the graph. 

How does knowing the values influence your decisions? 

• The values decision making tactic is not as conscious as the other tools. And therefore there is always a bias toward your values that have formed over time, through experiences.