Decision Analysis = Decision Engineering

Chairman of the Board and CFO Jim Matheson was a speaker as part of the Society of Decision Professional‘s fundamentals webinar series titled “Decision Analysis = Decision Engineering” on March 20, 2013.  If you missed the webinar, click here for the replay.

  • Would you design a bridge by guessing the size of various structural members?
  • Would you build a chemical plant by asking an “expert” to guess the size of various process elements?
  • Would you like the pilot of your aircraft to fly through fog without instruments?
  • Then why do people expect executives to use “gut feel” to make decisions?
  • Decisions need to be engineered just like bridges and chemical plants!

This webinar introduced sound engineering procedures to arrive at good decisions, while involving the right people in the right ways and to guide and motivate excellence in implementation. This discipline is called Decision Analysis, but perhaps should have been named “Decision Engineering.”  The presentation introduced the mindset needed and the tools available for Decision Engineering in various decision settings, and showed how the role of the Decision Analyst has evolved since its inception in the 1960s.