A Guide to the Business Analysis Body of Knowledge by IIBA & Kevin Brennan

Author:IIBA & Kevin Brennan [IIBA & Brennan, Kevin]
Language: eng
Format: epub
Tags: Business Analysis
ISBN: 9780981129211
Amazon: 0981129218
Publisher: International Institute of Business Analysis
Published: 2009-03-30T07:00:00+00:00

8.1.2 Decision Making

.1 Purpose

Business analysts must be effective in understanding the criteria involved in making a decision, in making decisions, and in assisting others to make better decisions.

.2 Definition

A decision is required whenever it becomes necessary to select an alternative or approach from two or more options. Decision analysis includes gathering information relevant to a decision, breaking down the information relevant to a decision, making comparisons and tradeoffs between similar and dissimilar options, and identifying the option that is most desirable. Business analysts must be aware of the traps that can impede successful decision-making, including the tendency to accept the initial framing of a problem, the sunk cost fallacy, and the tendency to place greater weight on evidence that confirms existing impressions.

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