Decision Making is really just Value Clarification
Basic Mental Framework for Making Decisions:
Basic OODA Loop: 1. Observe – 2. Orient – 3. Decide – 4. Act
(For immediate, stressful situation where time is a major constraint, ex “the heat of the moment”)
For most life situation where one has some time analyze and make a decision:
1. Take a Pause – 2. Observe – 3. Orient – 4. Define the Problem – 5. Decide – 6. Act
Basic Process for Making Decisions:
**Needs to be Written Out. Too Much Information to Keep in Your Head**
OOC/EMR Loop
1. Outcomes, 2. Options, 3. Consequences, 4. Evaluate Options, 5. Mitigate the Damage, 6. Resolve
Process for Making Decisions Under Pressure
1. Take Stock of Your Mental State:
You need to recognize and acknowledge your state and surroundings. Your state and surroundings will affect you and your ability to make decisions
2. If You are Not in a Good State, Admit and Recognize that Fact
3. ** Slow Down **
Write Everything Down. You need to get it out of your head. You need to see the logical thought process on paper. This reduces the mental strain when you are in a stressed/negative state
4. Follow Basic Process for Making Decisions
70% Rule:
Ask yourself how much information you ideally would need to make a decision. You only need 70% of that information to make the decision. The last 30% of information requires too much extra time, rarely is decisive, and produces diminishing marginal returns
Quick Decisions & Value Time
People often overvalue making the correct decision and undervalue making a quick decision. Often it’s better to be fast and not occupy more time. Time is very valuable
Best Decision vs Right Decision
You can only connect the dots looking backwards, not forwards. People often focus too much on making the right decision instead of the best decision. We live in a world of imperfect data that isn’t evenly distributed. All we can do is make the best decision with the information available. Is it the right decision?, only time will tell