How to Make a Decision: 12 Models to Try (Plus a bonus guide!)
Making decisions is a fundamental part of life. Whether you’re choosing a career path, selecting the best business strategy, or deciding where to eat, having a structured approach can lead to better outcomes. Fortunately, various decision-making models can help simplify the process, ensuring you consider all relevant factors.
One thing that has really helped me is a Decision Journal. There’s something to be said for writing down your thoughts and sorting through them from there.
That being said, I wanted to explore other “professional” methods out there on how to make a decision. Below are 12 methods I uncovered to enhance your decision-making skills.
1. Pros and Cons Analysis
One of the simplest and most effective decision-making methods is the Pros and Cons Analysis, famously used by Benjamin Franklin. This method involves listing the positives and negatives of each option, assigning importance to each factor, and making a comparative assessment.
Best for: Simple decisions with clear outcomes.
2. SWOT Analysis
The SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis is ideal for strategic planning and complex decision-making. By evaluating these four areas, you gain a clear picture of potential advantages and risks.
Best for: Business strategies and personal growth decisions.
3. Decision Matrix
A Decision Matrix is a structured way to compare multiple options based on various criteria. By listing options, setting key factors, scoring them, and calculating results, you can objectively evaluate the best choice.
Best for: Comparing several options based on multiple factors.
4. Stepladder Technique
The Stepladder Technique is particularly useful for group decision-making. Team members are introduced to the decision one at a time, ensuring that each voice is heard before a final decision is made.
Best for: Encouraging diverse input in group decisions.
5. Brainstorming
A well-known creative decision-making tool, Brainstorming involves open discussions where participants generate ideas without immediate evaluation. Once all ideas are on the table, the best solutions are analyzed and selected.
Best for: Generating innovative solutions in groups.
6. Delphi Method
The Delphi Method gathers expert opinions iteratively, allowing for refined insights before reaching a consensus. This structured process is particularly beneficial for specialized or high-stakes decisions.
Best for: Decisions requiring expert input and consensus-building.
7. Fishbone Diagram
The Fishbone Diagram (also known as the Ishikawa Diagram) helps identify cause-and-effect relationships. By visually mapping out problems and their potential causes, it becomes easier to pinpoint underlying issues.
Best for: Diagnosing complex problems and their root causes.
8. Cost-Benefit Analysis
A Cost-Benefit Analysis compares the potential costs and benefits of different options, quantifying each to determine the most financially and resource-efficient decision.
Best for: Financial and business-related decisions.
9. Six Thinking Hats
Developed by Edward de Bono, the Six Thinking Hats technique encourages decision-makers to view a problem from multiple perspectives. Each “hat” represents a different approach, such as emotional, logical, or creative thinking.
Best for: Expanding perspectives and reducing bias in decision-making.
10. Nominal Group Technique
The Nominal Group Technique is a structured brainstorming process that minimizes dominance by vocal individuals. Participants list ideas privately, discuss them, and then rank their preferences.
Best for: Group decision-making that avoids bias.
11. Multi-voting
Multi-voting helps reduce large lists of options by having group members vote on their top choices. This process continues iteratively until a clear decision emerges.
Best for: Narrowing down multiple options in a group setting.
12. Pareto Analysis (80/20 Rule)
The Pareto Principle, or the 80/20 Rule, focuses on identifying the small number of factors that produce the most significant results. By prioritizing these key issues, decision-making becomes more impactful.
Best for: Prioritizing tasks and maximizing impact.
Choosing the Right Decision-Making Model
The best decision-making model depends on the complexity of the choice and the context in which it is made. For quick decisions, Pros and Cons Analysis works well. When multiple factors are involved, a Decision Matrix or SWOT Analysis may be more effective. For group decisions, techniques like Brainstorming, Nominal Group Technique, or Multi-voting ensure everyone’s voice is heard. Meanwhile, strategic or expert-driven choices benefit from Delphi Method or Fishbone Diagrams.
By understanding and applying these decision-making models, you can approach choices with clarity, confidence, and a structured strategy — ultimately leading to better results in both your personal and professional life.
Need some more guidance? Consider a Decision Journal, like this one from Key2Success (Shop Page):