At an appropriate point in time after you have made the decision, you should evaluate the outcomes as part of a program of continuous improvement in the decision making process. Here are the steps to take:
- Revisit the “measures of success” you defined in the first step in the process. In that step, you determined what success would look like and how you would measure success. This is the time to take those measurements.
- Evaluate the “degree of success” for each measure. Not all of your success criteria will be a binary “yes or no”. Often you will have achieved some measure of success but perhaps not all you targeted. This is a key input to the next step.
- Determine if additional activity, time or resources will increase your degree of success. This is a key decision point. You don’t want to “throw good money after bad” hoping to succeed. You will need to decide if the calculated risk of continuing to invest more in the decision is worth it to you. Employ the same decision making methodology for this as used in the original decision.
In the next post I will present the final step in the 8 step process, where you evaluate the process itself to help you improve your future decisions.