Chapter 1: The Need for a Structured Approach
As businesses continue the rapid move towards digital, more technology purchases will find a home in the marketing organization. In fact, The Gartner Group estimates that 40% of technology investments are already happening outside of the IT organization.
Jonathan Allen, expert meeting facilitator, shares some tips on engaging participants during a meeting.
Chapter 2: How to Make a Decision
A pitfall of many planning decisions and portfolio optimization processes is gathering the right expertise from the right people who actually know about the projects or options in detail. Now, with Ratings Assignments, Decision Lens makes it fast and easy to tap the right sources of expertise to get the exact data you need to create a truly optimal and high ROI investment portfolio. See them in action.
Your out-of-date manual process is costing you more than just time.
A major challenge of what we call “advocacy-based” decision making is that there is no way to understand or evaluate the trade-offs that were made to arrive at a decision. This can best be illustrated through an example. We approached a leading NFL team several years ago to work with them on improving their draft. We asked them how they currently evaluated what players they wanted to go after in the draft for each position. They walked us into a conference room with cork boards on the walls and there were index cards posted for each position and below that were pinned up index cards with specific players names that they wanted to pursue. As their debate and research progressed, they would move those cards up or down to indicate priority. We asked them what they did with the cards after the draft was over, and the team told us that they just took down the cards and put them in a drawer until next season.
The immense loss of information in an approach like this is staggering, not to mention the intellectual capital that is wasted. By losing the relationship of the cards for each position, and never capturing what specific priorities and trade-offs for each position there were and why certain players were deemed more valuable in a given position over others, the team was losing millions of dollars of investment in their scouting organization, coaching organization, and ownership group. How is it possible to improve draft outcomes if the process by which you approach the draft is completely opaque and not repeatable?
Arriving at a plan involves trade-offs. We have methodologies now, such as the Analytic Hierarchy Process, to guide the process of trade-offs for each individual and for a group as a whole so that the decision arrived at can be evaluated, changed, tested, and so that we know what specific trade-offs were made and the importance or influence that those trade-offs contributed to in the final decision.
The following information is useful in understanding more clearly how trade-offs play a key role in planning, and how the ability to quantify those trade-offs is a necessary if not critical element to better decision making and better performance.
Chapter 3: Why the AHP Is Essential
Optimism Bias is one of the most common and detrimental biases in portfolio planning. Portfolio strategists routinely overvalue potential and underestimate risk.
Taking the Pain Out of Public Participation and Stakeholder Engagement - In this webcast, let us inspire you with 5 compelling case studies that showcase the best ways to engage stakeholders in the public planning and capital budgeting process.