A Tool for Improving Decision Quality on Upstream Consortia

2021 ◽  
Author(s):  
J. C. Cunha ◽  
J. Eric Bickel ◽  
Luis Mendoza ◽  
Jeremy Walker ◽  
Ellen Coopersmith ◽  
...  
Keyword(s):  
Decision Making ◽  
Decision Quality ◽  
Project Delivery ◽  
Decision Framing ◽  
Practical Guidelines ◽  
Decision Making Processes ◽  
Decision Management ◽  
Definition Of ◽  
Good Set ◽  
High Level

Abstract This article aims to provide a guideline to better decision quality on multi-company upstream projects. The scope is to provide a high-level overview of what should be included in a decision quality process, when companies with different levels of ownership and influence on the decision-making process naturally tend to have different approaches towards risks and decision management. It is well known in our industry that there is a predominance of multicompany participation in these projects and the paper will provide guidelines that will ultimately provide better decision quality and participant's alignment. Normally high-risk upstream projects have multi-company ownership. However, it has been noticed that companies tend to face decision management differently, which causes unnecessary delays on budget approvals and even operational timeline. Procedures to normalize the definition of an initial decision frame and creation of solutions based on a good set of alternatives are paramount to facilitate discussions and drive final recommendations. In summary, companies’ alignment on decision-making processes is key to quality, speed, and effectiveness of those decisions and critical to project success. Alignment between partners on pivotal decisions can significantly improve project delivery. The main results are practical guidelines for generating (a) decision framing, (b) strategies, (c) alternatives and potential consequences, and (d) logical analysis, partners’ alignment and commitment to action.

scholarly journals Heart and Mind: Essential Components in Sound Decision-Making

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 364-364
Author(s):  
Michaela Clark ◽  
Julie Hicks Patrick ◽  
Michaela Reardon
Keyword(s):  
Decision Making ◽  
Decision Quality ◽  
Cluster Solution ◽  
Cognitive Resources ◽  
Cluster Membership ◽  
Essential Components ◽  
Decision Making Processes ◽  
Affective Components ◽  
Heart And Mind

Abstract Consumer tasks permit an ecologically-valid context in which to examine the contributions of affective and cognitive resources to decision-making processes and outcomes. Although previous work shows that cognitive factors are important when individuals make decisions (Patrick et al., 2013; Queen et al.), the role of affective components is less clear. We examine these issues in two studies. Study 1 used data from 1000+ adults to inform a cluster analysis examining affective aspects (importance, meaningfulness) of making different types of decisions. A 4-cluster solution resulted. In Study 2, we used affective cluster membership and cognitive performance as predictors of experimental decision-making outcomes among a subset of participants (N = 60). Results of the regression (F(2, 40) = 6.51, p < .01, R2 = .25.) revealed that both the affective clusters (b = .37, p = .01) and cognitive ability (b = -.30, p = .04) uniquely contributed to the variance explained in decision quality. Age did not uniquely contribute. Results are discussed in the context of developing measures that enable us to move the field forward.

scholarly journals Spatial modelling of assumption of tourism development with geographic IT using

2010 ◽  
Vol 58 (6) ◽  
pp. 279-294
Author(s):  
Jitka Machalová ◽  
Ida Vajčnerová ◽  
Kateřina Ryglová
Keyword(s):  
Decision Making ◽  
Czech Republic ◽  
Information Technologies ◽  
Tourism Development ◽  
Spatial Modelling ◽  
Capital City ◽  
Geographical Information ◽  
The Czech Republic ◽  
Decision Making Processes ◽  
High Level

The aim of this article is to show the possibilities of spatial modelling and analysing of assumptions of tourism development in the Czech Republic with the objective to make decision-making processes in tourism easier and more efficient (for companies, clients as well as destination managements). The development and placement of tourism depend on the factors (conditions) that influence its application in specific areas. These factors are usually divided into three groups: selective, localization and realization. Tourism is inseparably connected with space – countryside. The countryside can be modelled and consecutively analysed by the means of geographical information technologies. With the help of spatial modelling and following analyses the localization and realization conditions in the regions of the Czech Republic have been evaluated. The best localization conditions have been found in the Liberecký region. The capital city of Prague has negligible natural conditions; however, those social ones are on a high level. Next, the spatial analyses have shown that the best realization conditions are provided by the capital city of Prague. Then the Central-Bohemian, South-Moravian, Moravian-Silesian and Karlovarský regions follow. The development of tourism destination is depended not only on the localization and realization factors but it is basically affected by the level of local destination management. Spatial modelling can help destination managers in decision-making processes in order to optimal use of destination potential and efficient targeting their marketing activities.

Geographic Marketing in Support of Decision-Making Processes

2020 ◽  
pp. 103-115
Author(s):  
Maria Fernanda Augusto
Keyword(s):  
Decision Making ◽  
Geographic Information ◽  
Essential Elements ◽  
Added Value ◽  
Key Factors ◽  
Digital Maps ◽  
Decision Making Processes ◽  
Growth Prospects ◽  
Definition Of ◽  
Different Sources

Nowadays, geographic information and spatial aspects are essential elements for the definition of companies' strategies. With the use of different sources data, companies were able to obtain insights that they could not obtain without the spatial component and were able to use them to optimize their business. Then, geographic marketing presents itself as an added value for companies, one of the key factors being its role in supporting decision making. The main attributes of geographic marketing or GeoMarketing allow us to identify and present through digital maps the behavior and trends of certain variables based on characteristics of a market. The meticulous study of spatial and demographic information generated by GeoMarketing are crucial for important strategic adjustments in the business plan, such as definitions related to the location considered ideal for the business, target audience, price and growth prospects, among other factors. In this context, GeoMarketing will be introduced, exploring its scope, applicability, and relevance of its use in support of the decision-making process.

scholarly journals The Influence of Core Self-Evaluations on Group Decision Making Processes: A Laboratory Experiment

2020 ◽  
Vol 10 (2) ◽  
pp. 29 ◽  
Author(s):  
Matteo Cristofaro ◽  
Pier Luigi Giardino ◽  
Luna Leoni
Keyword(s):  
Decision Making ◽  
Research Question ◽  
Decision Makers ◽  
Simulation Game ◽  
Manufacturing Firm ◽  
Decision Making Processes ◽  
Team Decision ◽  
High Level ◽  
Overconfidence Bias ◽  
Core Self

The personal trait called Core Self-Evaluations (CSE) has been receiving increasing attention from behavioral strategy scholars due to its ability to predict job performance and to explain some facets of decision-making processes. However, despite previous studies hypothesizing that managers with high values of CSE are intuitive thinkers, beyond any doubt of their capacities and that they significantly lead to positive results for their organization, no one has empirically investigated these assumptions. This gap can be substantiated by the following research question: “How do high Core Self-Evaluations influence team decision-making processes?”. Answering it provides insights on how the evaluations that decision makers make about situations (and the consequent actions that are implemented) highly depend on decision makers’ inner traits and their effect on cognition. To fill this gap, 120 graduate students—divided into groups of four—took part in a simulation game and were asked to make decisions acting the role of General Manager of a small-sized manufacturing firm. Tests aimed at identifying the CSE and intuitive/reflecting thinking approach of participants were administered; moreover, the performance resulting from their decision-making processes and their estimation of reached results were collected. Results show that an average level of CSE is preferable to balance intuitive and reflective thinking, as well as avoiding overconfidence bias and reaching the best performance possible. This work suggests that there is a huge misattribution in considering a high level of CSE as being beneficial for decision-making processes and consequent performance.

Defining the Phenomenon of Mental Models for Critical Events

2013 ◽  
Author(s):  
Kanter van Deurzen ◽  
Imre Horváth ◽  
Regine Vroom
Keyword(s):  
Decision Making ◽  
Mental Models ◽  
Mental Model ◽  
Real Life ◽  
Critical Events ◽  
Cognitive Representations ◽  
Related Information ◽  
Strong Relation ◽  
Decision Making Processes ◽  
Definition Of

People use cognitive representations in order to characterize, understand, reason and predict the surrounding world. A class of these representations are called mental models. Designers of informing systems are interested in how mental models influence decision making, especially during critical events. With this knowledge they could optimize the content and amount of information that is needed for a dependable decision making process. New insights are needed about the operation of mental models in the course of critical events, as well as on how informing influences the real life operationalization of mental models. Most of the definitions available in the literature are overly general, and no definition was found that would support the design of informing systems for critical events. Therefore, the objective of our research was to derive a definition of mental models that play a role in critical events. Actually, we systematically constructed a definition from those attributes of mental model descriptions that were found to be relevant to critical events. First we decomposed 125 published descriptions to a set of attributes, and then assessed each attribute to see if they were associated with critical events, or not. In fact, this analysis involved not only the relevance of the attributes to critical events, but also the frequency of occurrence in the surveyed papers. This exploration provided a large number of attributes for a new mental model definition. Based on the top rated attributes, a definition was synthesized which, theoretically, has a strong relation to critical events. Though further validation will be needed, we argue that the derived mental model definition is strong because it establishes relationships with all generic features of critical events and makes the related information contents explicit. Hence the proposed definition can be considered a starting platform for investigations of the influence of informing on decision making processes in critical events.

GROUPTHINK: EFFECTS OF COHESIVENESS AND PROBLEM-SOLVING PROCEDURES ON GROUP DECISION MAKING

1984 ◽  
Vol 12 (2) ◽  
pp. 157-164 ◽  
Author(s):  
Michael R. Callaway ◽  
James K Esser
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Group Decision Making ◽  
Group Decision ◽  
Group Processes ◽  
Decision Procedures ◽  
Decision Quality ◽  
Group Cohesiveness ◽  
Mixed Support ◽  
High Level

Janis' (1972) groupthink formulation was tested in the laboratory by manipulating group cohesiveness and adequacy of decision procedures in a factorial design. Internal analysis, involving redefined cohesiveness categories, provided mixed support for the groupthink hypothesis on measures of decision quality and group processes presumed to underlie the groupthink decisions. Specifically, it was found that: (1) highest quality decisions were produced by groups of intermediate cohesiveness; (2) high cohesive groups without adequate decision procedures (the groupthink condition) tended to make the poorest decisions; and (3) the presence of groupthink was characterized by a lack of disagreement and a high level of confidence in the group's decisions.

How to Trust

2012 ◽  
Vol 3 (3) ◽  
pp. 20-34 ◽  
Author(s):  
Massimo Felici
Keyword(s):  
Decision Making ◽  
Decision Model ◽  
General Definition ◽  
Decision Making Processes ◽  
Definition Of

This paper concerns decision-making processes that rely on trust. In particular, it analyzes how different aspects of trust (e.g., trust, trustworthiness, trustworthy evidence) influence trust decisions, and acting on them eventually. It proposes a trust decision model that structures the analysis of contextualized trust problems. Rather than seeking a general definition of trust, this paper advocates the necessity to have a structured way to analyze and characterize situational trust problems systematically.

A Mashup Application to Support Complex Decision Making for Retail Consumers

2012 ◽  
pp. 277-294 ◽  
Author(s):  
Steven Walczak ◽  
Deborah L. Kellogg ◽  
Dawn G. Gregg
Keyword(s):  
Decision Making ◽  
Information Overload ◽  
Decision Quality ◽  
Online Tools ◽  
Decision Making Processes ◽  
Complex Decision Making ◽  
Complex Decision ◽  
Time Required ◽  
Decision Complexity

Purchase processes often require complex decision making and consumers frequently use Web information sources to support these decisions. However, increasing amounts of information can make finding appropriate information problematic. This information overload, coupled with decision complexity, can increase time required to make a decision and reduce decision quality. This creates a need for tools that support these decision-making processes. Online tools that bring together data and partial solutions are one option to improve decision making in complex, multi-criteria environments. An experiment using a prototype mashup application indicates that these types of applications may significantly decrease time spent and improve overall quality of complex retail decisions.

Ethical E-Participation

2015 ◽  
pp. 433-455
Author(s):  
Marco Picone ◽  
Francesco Lo Piccolo
Keyword(s):  
Decision Making ◽  
Social Justice ◽  
Public Participation ◽  
Theoretical Framework ◽  
Digital Mapping ◽  
Decision Making Processes ◽  
Public Participation Gis ◽  
Definition Of

The most recent forms of e-participation seem to provide new issues that need to be discussed. One such discussion involves the role of GIS. Can an ethically aware GIS be conceived? What does it mean for a GIS to be ethical at all? Throughout this paper, first the authors create a theoretical framework to encompass four key elements that lead us to the definition of ethical digital mapping: GIS ethics, social justice, power, and participation. Then they introduce the concept of PPGIS (Public Participation GIS), and argue that only a ‘qualitative turn' can enhance their importance in decision-making processes. Finally, the authors discuss an experiment that is currently taking place in Palermo, Italy, to debate the opportunities qualitative PPGIS may grant.

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