Managing Risks, Managing Measures: Decision Support Methodologies in Business
Part 1: Guidelines
Edward S. Robins, PhD - February 28, 2002

Executive Summary

When it comes to making decisions using some tool that purports to measure value, it is wise to know something about the tool and what it is measuring, as well as why. Poor measurement methods contribute at least in part to project failures and corporate inefficiencies that can take off millions or more from bottom lines and poor technology selections alone have contributed to tens of billions of dollars of unnecessary costs. Methodologies implicit within decision aid tools can bring out value for the users, but the question is if these values are really representing what the stakeholders think they are being shown or need. This article provides some guidance into these issues, and how a manager may avoid making an expensive mistake.<br>&nbsp; <br> <font color="#336699">This is <b>Part One</b> of a two-part article.<br> <b>Part Two</b> concerns Decision Aids in Business with a listing of some of the tools for business decision making.</font>..