Top 10 Ways to Make a Bad Decision
10. Make a decision based on money and time you've already spent.
9. Play up information that confirms your current point of view.
8. Ignore information that doesn't.
7. Pay too much attention to the first thing you hear, or the first data you receive.
6. Frame a decision only on the benefits OR risks, but not both.
5. Wear rose-colored glasses when you are estimating the results.
4. Wear doom-colored glasses when you are estimating the results.
3. Believe that your "gut" is the smartest person in the room. Corollary: Justify every decision with a quote by Malcolm Gladwell.
2. Use nothing but data.
1. Don't use data at all.
Labels: analysis, change management, decision optimization, decision traps, Decision-Centric Business Improvement, decisions, models, statistics
