Decision Making & Problem Solving
- Decision Matrix: A tool used to evaluate all the options of a decision when multiple courses of action are possible.
- Cost-Benefit Analysis (CBA): A process used to evaluate the advantages and disadvantages of an action or decision, quantifying the expected balance of benefits over costs.
- Heuristic: A practical approach to problem-solving that is not guaranteed to be optimal, perfect, or rational, but is nevertheless sufficient for reaching an immediate goal.
- Brainstorming: A group creativity technique aimed at generating a large number of ideas for the solution to a problem.
- Pareto Principle (80/20 Rule): The observation that roughly 80% of outcomes come from 20% of causes.
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