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Decision Quality

Exam Questions: 50
Course Level: Basic
Pages: 248 | Content: 238, Supplemental: 10
NASBA Area of Study: Management Services
Not Acceptable for: Enrolled Agents
Version: 7410A

Our lives, both business and personal, are marked by a stream of decisions. How well we make those decisions matters. This course outlines the framework and thinking tools that will help you get more of what you truly want and more value from every decision.

This course addresses how to:
• Frame a problem or opportunity
• Create a set of attractive alternatives
• Identify relevant uncertain information
• Clarify the values that are important in a decision
• Apply tools of analysis, and
• Develop buy-in among shareholders

PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • PART I: THE DECISION QUALITY FRAMEWORK
  • The Power of Decisions
  • The Requirements for Decision Quality
  • Getting to Decision Quality
  • PART II: THE SIX REQUIREMENTS FOR DQ
  • The Appropriate Frame
  • Creative Alternatives
  • Relevant and Reliable Information
  • Clear Values and Tradeoffs
  • Sound Reasoning
  • Commitment to Action
  • PART III: HOW TO ACHIEVE DQ
  • Biases and Traps in Decision Making
  • Megabiases that Undermine DQ
  • Achieving Quality in Strategic Decisions
  • Achieving Quality in Significant Decisions
  • PART IV: THE JOURNEY TO DQ
  • The Amoco Unleaded Gasoline Decision
  • Building Organizational Decision Quality
  • Embarking on the DQ Journey
Objectives
  • To recognize when to judge the quality of a decision
  • To recall the six requirements needed to make a high-quality decision
  • To identify the steps involved in the DQ process
  • To identify the components of framing
  • To identify the characteristics of a good decision
  • To identify the goal of using reliable and relevant information in decision making
  • To recognize how value metrics are used to make quality decisions
  • To identify the tools utilized with sound reasoning
  • To recognize the importance of taking action and how to clear the way to get there
  • To identify the mental processes that create biases and shape judgment
  • To identify the five megabiases that hinder DQ
  • To identify the advantages of the dialog decision process
  • To recognize the benefits of the DQ Appraisal Cycle
  • To recognize the huge benefit-to-cost ratio in the decision analysis process at Amoco
  • To identify the components of organizational decision quality
  • To identify the value of decision quality

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.