Analytical Decision-Making in Project Management
Posted by [email protected] on Aug. 19, 2022 / Subscribe 0
For a project manager, the ability to make business decisions is incredibly important. Evaluating the options available and choosing the best decision is a key part of the job. Being an effective leader includes analytical decision-making, in that having all the facts before making a decision is key.
Decision analysis is a valuable tool that helps solve decision problems when outcomes are uncertain. It involves a tool called a decision tree, which has two types of nodes: Chance nodes and decision nodes. Chance nodes are nodes “at which a random outcome is realized,” whereas decision nodes are nodes where a decision is to be made. Moving from each node in the tree represents the passage of time, and the movement from node to node indicates either the need to make a decision or to fulfill a random outcome.
Decision analysis is critical in helping project managers define projects, plan projects, and review project progress. To learn more about decision analysis, visit the PMI website.
Being a decisive project manager will help you advance in your career. On the other hand, being indecisive or making poor decisions can put a damper on your career. Project managers who are skilled at what they do, including being decisive, are in high demand as they promote growth and success in their teams and for their companies.
At PMI San Diego, we offer opportunities for project management practitioners to enhance their skills through peer to peer connection and knowledge sharing, as well as professional development events. Our mission is to enhance the knowledge and skills of current and potential project management practitioners in San Diego through thought leadership, industry best practices and project management community collaboration.
Check out a few of our upcoming events:
- May 23-26 at 5:00 p.m. PDT, PMI Training in San Diego*
- May 25 at 5:00 p.m. PDT, Transformational Program and Portfolio Leadership that #GSD
- May 27 at 7:30 a.m. PDT, Career & Job Development Morning Event – 1 Strategic PDU.
- June 2 at 9:00 a.m. PDT, Smartsheet for Project Leaders that #GSD
- June 8 at 6:00 p.m. PDT, PMI San Diego Chapter Live Dinner Event - 1.0 Strategic PDU*
- June 16 at 5:30 p.m., PMI-SD Membership Networking Happy Hour*
*Denotes an in-person event
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