Decision-making models can be used by both groups and individuals.
A decision model is a visual device used to help one or more people consider a problem or situation and make a decision about how to handle that situation. There are many different models that can be used, generally consisting of rational or intuitive models with numerous variations on each of these types. The model a person or group uses often depends on who is involved in making decisions and the type of problem being considered. A good decision model can be important for many companies and leaders, although it is not always a perfect way of making decisions.
Sometimes called a decision method or decision model, a decision model is usually created on a piece of paper or other visual medium. Various programs and software applications can be used to help create a decision model, and groups often use large sheets of paper or white boards to make these models. There are many different models that can be used, with different visual representations, to assess a problem or make a decision. Choosing the correct decision model to be used by a group or individual can be quite a difficult decision in itself, and some trial and error may be necessary.
Once a decision model is chosen, different processes can be used to complete that model and arrive at a decision. However, at the end of the day, there are usually some common steps involved in using such a model. This generally begins with the formulation of the model and any necessary research to determine the pertinent information needed to create the model. This is followed by the analysis of the model information, culminating in the decision-making process based on the evaluation of the information present in the decision model.
Once a decision is made, an action plan can be designed and implemented to enact that decision in a way that is effective. Additional evaluation normally follows the implementation of this plan, both to consider the plan itself and the effectiveness of the decision model. Once this is done, future decisions can benefit from using the same model or a new one if the old one is deemed inappropriate. Decision models are often rational models, which use lists and logical analysis of information, or intuitive models, which are often based on the intuition and instincts of those dealing with a problem or decision.