What are some risks involved in the alternative(s) you chose?

Steps and Descriptions of Steps
Step 1:
Recognize the need for a decision
Identify the decision. The first step in making the right decision is recognizing the problem or opportunity and deciding to address it. Determine why this decision will make a difference to your customers or fellow employees.
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Step 2:
Generate alternatives + gather information
Identify alternatives. Once you have a clear understanding of the issue, it’s time to identify the various solutions at your disposal. It’s likely that you have many different options when it comes to making your decision, so it is important to come up with a range of options. This helps you determine which course of action is the best way to achieve your objective.

Step 3:
Assess alternative • Weigh the evidence. In this step, you’ll need to “evaluate for feasibility, acceptability and desirability” to know which alternative is best. Managers need to be able to weigh pros and cons, then select the option that has the highest chances of success. It may be helpful to seek out a trusted second opinion to gain a new perspective on the issue at hand.

Step 4:
Choose among alternatives
• Choose among alternatives. When it’s time to make your decision, be sure that you understand the risks involved with your chosen route. You may also choose a combination of alternatives now that you fully grasp all relevant information and potential risks or one alternative. Why did you choose this alternative(s) versus others? What are some risks involved in the alternative(s) you chose?

Step 5:
Implement the chosen alternative
Take action. Next, you’ll need to create a plan for implementation. This involves identifying what resources are required and gaining support from employees and stakeholders. Getting others onboard with your decision is a key component of executing your plan effectively, so be prepared to address any questions or concerns that may arise.
Step 6:
Learn from feedback
• Review your decision. An often-overlooked but important step in the decision-making process is evaluating your decision for effectiveness. Ask yourself what you did well and what can be improved next time and what additional information you might need. What is one way to tell if your decision is working?

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