Managers make decisions under three different conditions: certainty, risk, and uncertainty. It is part of their job description. Yet, few managers receive any formal training on decision making. This course provides participants with the essential business decision models and techniques in order to improve the quality of their decision making, taking into consideration the condition they operate under.
It also offers key advice on decision-making models and techniques that will enable you to make more informed/better decisions, manage uncertainty, improve your success rate, and become a more effective manager.
Course Methodology
The course uses a mix of interactive techniques, such as brief presentations by the consultant, case studies, and group exercises to apply knowledge acquired throughout the course.
Course Objectives
By the end of the course, participants will be able to:
Explain the principles of good decision making
Use data to make informed and better decisions
Implement risk-based decision making techniques
Develop essential financial literacy skills
Use tools to implement successful decisions
Target Audience
Managers, department heads, and business professionals who are involved in decision making, planning, and developing strategies for their own departments as well as the organization.
Target Competencies
Decision making
Risk management
Risk assessment
Evaluation
Budgeting
Analytical thinking
Financial decision making
Course Outline
The Principles of Decision Making
Decision-making assessment
The standard decision-making model
The decision-making spectrum
Townsend’s rules
The RAPID model
Using Data for Better and Informed Decisions
Lewin’s force field analysis of support and opposition
Scenario analysis and charting possible futures
Case study
Mapping stakeholders’ reactions
Dealing with the politics of decisions
Risk-Based Decision Making
Risk impact/probability chart
Characteristics of the risk/impact probability chart
Decision tree analysis
Decision tree analysis implementation steps
Application exercises
Financial Literacy for Decision Makers
Capital budgeting and cost of capital
Accounting Rate of Return (ARR)
Payback Period (PP)
Net Present Value (NPV)
Internal Rate of Return (IRR)
Implementing Your Decisions Successfully
Round’s Trap model
How to use it
Shewhart’s PDCA model
How to use it
Application exercise
Lessons learned
Schedule & Fees
2026 Schedule & Fees
There are no public sessions remaining for the course this year. Please contact us if you wish to have a customized in-house session, or to find out how an additional public session can be scheduled.