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MGT602 Business Decision Analytics

Referencing Styles : Open | Pages : 3

Gather input from selected individuals and then decide

This kind of approach would work given the final decision still lied with me, but one of its biggest defects would be the fat that incase I outsourced these individuals then there would always be need to go back to the same individuals in case other things are input to the entire project. (Bok, et al, 2012) This tact also till gives the project manager the mandate to decide what happens.

Put a team together to analyze and come up with ideas and the manager decides

This is an appropriate decision making approach given different expertise would bring in a lot of insight into the project and this would greatly influence the way the project is supposed to progress however the decision solely still lies with the project manager on what to and what not to implement.

Team consensus

This is where the technical team is put together, it assesses the risks and give options on all the given questions. The best part of this is that all avenues are exhausted and possible outcomes given. (Brockmann, et al, 2016) Usually with this type of decision making takes up a lot of time to reach a conclusive consensus, ultimately once a consensus is reached everything seems run smoothly till the completion of the project. Even so this type of technique always needs projects that are long term and have a stretch of time.

Personally I decided that reviewing other people’s proposals was my best choice given the company had only about two weeks to decide on logistics and other varying factor. I then realized that most of those who had lived, worked and or visited Cape Town had firsthand experience with the diverseness of the place and offered a lot of information on the same.

SOURCES OF DATA

A source of data is any particular material electronic or otherwise that would be used in reference to the project at hand. In the 21st century data is mainly sourced from the internet and most information is stored in this electronic manifests. In project management sources of data are divided into 2 broad concepts namely;

1. Primary data sources and,

2. Secondary data sources

Primary Data Sources

These are firsthand accounts of the events related to the topic usually internal or within the organizational structures, this is data being collected for the first time. (Charlesworth, David (2017) Survey, observation and experiment are the methods mostly used in collecting primary data, and this is what I initiated to help me make the best decision. However, not all these methods can be used in one project hence the question on which one would be more efficient in the given project putting into consideration the nature, time and cost. (Davenport2009, 117–123)

1. Survey:  this method entails interviewing people either;

Ø Individual which is a one on one conversation with the person and gives the interviewer the advantage of asking a question repeatedly without leaving any question unanswered.

Ø Telephone this saves on time and costs (travel) since any particular individual can be contacted from a central point and is also quicker response platform

Ø Mail this is where a questionnaire form may be sent to selected individuals and they send back answers through the same medium, this form of survey is good because it enables for records to be automatically be saved within the mails and also saves much on costs

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