PRE-TEST - Decision Making Under Uncertainty

Which decision approach requires discussion until all participants agree on the best decision, sharing the decision-making process equally with others who have knowledge or responsibility for the change?

• Autonomous

• Consultative

• Consensus

• Collaborative

What is a critical, often overlooked consideration when selecting solutions?

• The potential technical gains achieved

• How long the implementation will take

• The financial return or payback period

• The other problems the solution might create (unintended consequences)

The Payoff Matrix, used as part of GE’s workout process, is a simple 2x2 matrix that evaluates solutions based on which two axes?

• Benefit/Cost Ratio on the x-axis and Financial Return on the y-axis

• Effort on the x-axis and Payoff on the y-axis

• Impact on the x-axis and Quality of Execution on the y-axis

• Time Available on the x-axis and Organizational Fit on the y-axis

Which decision-making tool allows decision makers to specify the criteria used and score each possible solution, selecting the one with the highest score as the most viable?

• Payoff Matrix

• Paired Comparison

• Decision Table

• Debono’s Six Thinking Hats

In Debono’s Six Thinking Hats methodology, which hat focuses on making sure the thinking process is managed?

• White Hat

• Red Hat

• Blue Hat

• Green Hat

During a group evaluation using Debono's Six Thinking Hats, the time to look at the potential downsides of a solution corresponds to which hat?

• Red Hat

• Yellow Hat

• Green Hat

• Black Hat

Implementation success is defined by a two-factor mandate based on the formula: Impact = ?

• Plan Efficiency x Resource Organization

• Quality of Execution x Organizational Change Management

• Plan Effectiveness x Quality of Execution

• Time to Completion x Financial Return

Which scheduling method sets a date by which the project is to be completed and then sets schedules and allocates resources for each activity in order to accomplish it?

• Forward scheduling

• Backward scheduling

• Critical path analysis

• Critical path analysis

In the Solution-Outcome Matrix used for analyzing evaluation results, which outcome may be due to the Hawthorne effect, where performance improves temporarily because people know they are being observed?

• Y improved, X implemented well.

• Y didn’t improve, X implemented well.

• Y didn’t improve, X not implemented well.

• Y improved, X not implemented well.

The cognitive bias where an investigator believes the problem-solving process is working fine because the Y variable (performance) improved, even if the results are still unacceptable to some stakeholders, is an example of which bias?

• Recency Effect

• Confirmation Bias

• Anchoring Bias

• Availability Bias