Decision making in critical issues – how you can help the weighted average method.

admin — Thu, 13 Oct 2011 10:28:42 +0000

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Whether in business management and

personal life, you have to make decisions in some aspects. The decision is a fundamental characteristic of any manager. Made available the decision carefully, after studying the data and information, pros and cons for selecting, evaluating the pros and cons, you need to take your mind. Emotion, decision making can not be eliminated even the emotional impact of a certain amount of instinct and intuition.

times, the two look “equally good” and to select among various options, it may be too difficult to take decisions. In these circumstances, the “weighted average method” is a simple mathematical approach can be followed to obtain a clearer picture on what is your best choice.

“weighted average” first to understand the system, given the point that we have the first option, with an average to make their own decisions “average” to understand how you can. We try to understand everything through a practical example.

There

[to define the problem

(for example) that are currently employed by the company. Complaints about your point of you. This will have a new job offer better salaries, and other factors that influence some of the considerations mentioned above, but more to pay. Your problem is whether to accept an offer of new work.

list of impact factor out of
This case, we say that
The
new job (Salary B) (C) The forecasts growth (D) participate in the scale of organized tours (F) Field (G) / specified location (E) with the job profile, the comparability of qualifications and experience () Parks and position (H) is a convenient working hours (day / night shift) are taken into consideration the factors that influence 8.

say that we, the maximum points for each factor is 5. We factor 8 (H) and has, up to the total of these points is five days per week = 40 × time.
No 1 scale
5 (your current job):: Assign points to each of these eight factors of the options (1 = most to 5 = most favorable)

So let’s say, in your present job [,
() = 5 = most favorable point in your area

(B) = 3 points is a reasonably good salary =
(C) = 4 points = excellent growth opportunities for your
(d) Qualification / Exp. Two match points = poor =
(E) = 5 points of the trip given the more favorable =
(F) = Trvelling lot (not like you are not) = 1 point
(G ) = 2 points = poor Perks
(H) = shift is very comfortable and no = 2 points.

above average = (5 +3 +4 +2 +5 +1 +2 +2) / (8 × 5) 24 min = 60 = 40%
2 (new work) based on the information available, the ability to assign a point.

So let’s say, has offered a new job in [,
() = 2 points = no good in your area

(B) = 5 = very good points in your paycheck
(C) = 2 points = excellent growth opportunities for your
(D) Qualification / Exp. Two match points = poor =
(E) = 5 = most favorable point specified
(F) = 3 points do not travel much Trvelling =

(G) = 2 points Perks poor =
(H) = 3 points = to work a little ‘convenient shift.
() = 2, B = 5, (C) = 2, (D) = 2, E = 5 (F) = 3, G = 2, (H) = 3
above
mean = (2 +5 +2 +2 5 +3 +2 +3) / (8 × 5) 24 = 3 / 5 = 60 min = 60%

So, in this case, using the method of media, you get the same weightage both options, it comes to making decisions, it would be difficult.
There
[Let’s see how we operate now and how the weighted average method .
weightage given to each of the factors that influence based on how much importance you give to each
.
The
, the influence of “subjective” (or in some way, affect emotional) enters the scene at the right scale. = 3 for your most important, a little ‘major = 2, 1 = least important – is based on the extent to which what is important to our customers on a scale of 3 to give weightage to each factor.
(Note: For simplicity, it is proposed as necessary, on a scale of only three points, this way you can spread it wide: a generic -1 very important matter, a somewhat ‘important to -2, – 3, very important – 4, -. 5 is very important that your decision, but it still helps to ensure good, in this example, only three point weightage is given as follows.).
There
[weightage assigned
(A) Location: The most important thing for you: 3
(B) pay level: very important to you: 3
(C) Growth prospects: the most important to you: 3
Match
experience / qualifications (D): at least important to you: 1
(E) Specification: a little ‘important to you: you two are not as frequent trips: travel
(F) 1
(G) Performances: indifferent: 2
(H) hours of practical work: Very important for you: 3
> Multiply the points assigned previously using the weightage points over time.
There
[ Option 1 – existing jobs
() = 5×3 = 15, (B) = 3 × 3 = 9, (C) = 12 = 4×3, (D) = 2 × 1 = 2, (E) = 5 x 2 = 10
(F) = 1 a = 1×1, (G) = 2 × 2 = 4, (H) = 2 × 3 = 6
There
[ Option 2 – a new job
() = 2 × 3 = 6, (B) = 5×3 = 15, (C) = 2 × 3 = 6, (D) = 2 × 1 = 2, (E) = 5 x 2 = 10
(F) = 3 × 1 = 3, (G) = 2 × 2 = 4, ( H) = 3 × 3 = 9
now is the calculation of weighted average
:
(15 9 12 2 10 +1 +4 +6) / (8x5x3 ) 59 = 49.1% = 120 min: – Existing Work 1: for options
55 = 45.8% = 120 min
(8x5x3) (6 15 +6 +2 10 +3 +4 +9) /: – Work 2 – New options for
is an option to continue the existing
a better job, ie 1: Using the weighted average method, it is time to find this option: Please decision.
If you get a very small difference in the same proportion or
anything after this exercise?
can do the next thing.
add some factors that influence the most. In our example, you can add: (i) the cost of living in tension / responsibilities involved in such work (J) Location / new organization of work (H) views of a spouse’s reputation, (K) The scope
5-point scale, for example, a 10 point scale / increasing the precision adjustment points>> to increase the weightage factor to reassign them to 5-3 for each factor br (As already mentioned above) and develop weightage points. It is based on currently available
did not infallible decision, remember that simply can not be done. No decision is purely logical and objective, to do with unaffected emotion and subjectivity has not been so far. Weighted average method is the best decision for your state can help make the process of fine tuning. In doing so means you are in your free time, sometimes to justify decisions taken in haste is very useful!

CVRajan

mechanical designers and consultants wrote
. Freelance Writer – Management, Spirituality, and short stories

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Decision making in critical issues – how you can help the weighted average method.