6DQ gives decision makers a wealth of information to base their decision making on rather than a narrow lens of the world with one option put forward.
What do we mean by Analysis & Insight?
Decision Analysis follows the following process
- Framing (Aligning on the opportunity)
- Option Generation (Being creative in optionality)
- Assessment of different options
- Insight (When would Decision change and under what circumstances)
The ultimate goal is to get clarity in the process and be able to have insightful discussions with the decision maker on a recommended course of action, displaying the potential upside as well as potential downside.
Services we provide:
- Taking output of Framing workshop and structuring a decision model if required to answer the key decision questions at this stage in the project. Providing analysis and insight.
- Decision Analysis coaching and training
Decision Analysis will focus on:
- Structuring the problem and understanding decision, uncertainty, calculations and value metrics linkage prior to Decision Model build.
- Building a Decision Model (if required) to analyse the problem.
- Estimating ranges for input parameters
- Understanding the important input information to the problem.
- Using Model to calculate output Metric ranges.
- Comparing different options and providing insight to Decision Makers.
Examples of Insights:
- What option will the company be exposed to more downside vs upside
- what option gives materially more upside.
- What options are significantly weaker or stronger across the full range of uncertainty.
- What are the trade offs between the different options (One option may be higher on one output variable but less on another)?
- How would our recommended course of actions change if the likelihood of different input variables changed?
These insights give rich discussion prior to making decisions thus helping to ensure higher quality!