Assignment:
Part 1
Hammond, Keeney, and Raiffa describe in their book an approach designed to help you make the best possible choice. They call it the PrOACT approach, and it addresses eight keys to effective decision making. Those keys are:
• Work on the right decision problem.
• Specify your objectives.
• Create imaginative alternatives.
• Understand the consequences.
• Grapple with your tradeoffs.
• Clarify your uncertainties.
• Think hard about your risk tolerance.
• Consider linked decisions.
ASSIGNMENT: Report on Stakeholders
Select a current article from the news about a decision.
Required Elements to include in the Report on Stakeholders:
o provide an overview of the article;
o define the decision problem;
o identify the stakeholders and define their interests;
o assess the stakeholders' potential impact on the decisions;
o assess the potential impacts of the decision on the stakeholders. It is acceptable to use your imagination about stakeholders' reasoning;
o Finally, in the role of the decision maker, explain how you would accommodate the stakeholders' interests and minimize the impacts on less powerful stakeholders.
o Use APA formatting for in-text citations and and a reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary.
Part 2
Hammond, Keeney, and Raiffa describe in their book an approach designed to help you make the best possible choice. They call it the PrOACT approach, and it addresses eight keys to effective decision making. Those keys are:
Work on the right decision problem.
Specify your objectives.
Create imaginative alternatives.
Understand the consequences.
Grapple with your tradeoffs.
Clarify your uncertainties.
Think hard about your risk tolerance.
Consider linked decisions.
ASSIGNMENT: Report on Decision Risks
Select an article on a current business or nonprofit organization decision in the news.
Required Elements to include in the Report on Risk:
provide an overview of the article;
identify all the potential risks involved. It is acceptable to use your imagination;
after identifying the risks, categorize your reasoning, as follows:
Low risk: May be acceptable due to low probability or limited consequences. Explain your reasoning for each risk.
Moderate risk: Moderate probability or consequences, which may be mitigated or minimized by some action or countermeasure. Explain your reasoning for each risk.
High risk: High probability and high consequences. This risk cannot be tolerated and must be fully resolved before the decision is implemented. Explain your reasoning for each risk.
Use APA formatting for in-text citations and and a reference page. You are expected to paraphrase and not use quotes. Deductions will be taken when quotes are used and found to be unnecessary.