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Value-Focused Thinking: A Path to Creative Decisionmaking, by Ralph L. Keeney
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The standard way of thinking about decisions is backwards, says Ralph Keeney: people focus first on identifying alternatives rather than on articulating values. A problem arises and people react, placing the emphasis on mechanics and fixed choices instead of on the objectives that give decisionmaking its meaning. In this book, Keeney shows how recognizing and articulating fundamental values can lead to the identification of decision opportunities and the creation of better alternatives. The intent is to be proactive and to select more attractive decisions to ponder before attempting any solutions.
Keeney describes specific procedures for articulating values by identifying and structuring objectives qualitatively, and he shows how to apply these procedures in various cases. He then explains how to quantify objectives using simple models of values. Such value analysis, Keeney demonstrates, can yield a full range of alternatives, thus converting decision problems into opportunities. This approach can be used to uncover hidden objectives, to direct the collection of information, to improve communication, to facilitate collective decisionmaking, and to guide strategic thinking. To illustrate these uses, Keeney shows how value-focused thinking works in many business contexts, such as designing an integrated circuit tester and managing a multibillion-dollar utility company; in government contexts, such as planning future NASA space missions and deciding how to transport nuclear waste to storage sites; and in personal contexts, such as choosing career moves and making wise health and safety decisions.
An incisive, applicable contribution to the art and science of decisionmaking, Value-Focused Thinking will be extremely useful to anyone from consultants and managers to systems analysts and students.
- Sales Rank: #122360 in Books
- Brand: Brand: Harvard University Press
- Published on: 1996-02-01
- Released on: 1996-02-26
- Original language: English
- Number of items: 1
- Dimensions: 9.22" h x 1.11" w x 6.16" l, 1.41 pounds
- Binding: Paperback
- 432 pages
- Used Book in Good Condition
Review
[Value-Focused Thinking] is both an inspired and inspiring book. It is also a rarity among academic and business texts: it is a 'damn good read.' Keeney writes well, arguing his case clearly in the abstract and illustrating it through numerous interesting and pertinent examples. (Simon French Journal of Multi-Criteria Decision Analysis)
Outstanding...Innovative thinking. (Decision Analysis Newsletter)
Value-Focused Thinking clearly demonstrates the problems occurring in commercial and other organizations as a result of restricting decision choice to the available alternatives (alternative-focused thinking), rather than starting by considering what it is intended to achieve (value-focused thinking). (Observer)
From the Back Cover
In this book, Ralph Keeney turns standard decisionmaking methods on their heads. Rather than placing emphasis on mechanics and fixed solutions, Keeney argues, we should focus on the bottom-line objectives that give decisionmaking its meaning: it is through recognizing and articulating fundamental values that we can better identify decision opportunities- and thereby create better decision alternatives.
About the Author
Ralph L. Keeney is a private consultant in San Francisco, as well as Professor of Systems Management, Institute of Safety and Systems Management, University of Southern California. He is coauthor (with Howard Raiffa) of Decisions with Multiple Objectives, which was awarded the Lanchester Prize of the Operations Research Society of America.
Most helpful customer reviews
0 of 0 people found the following review helpful.
Five Stars
By Amazon Customer
A valuable approach to Decision making and Risk analysis.
10 of 10 people found the following review helpful.
Enlightening and practical approach
By Daniel Waisberg
I am finishing my Masters in Operations Research and Decisions, and I had several courses on Decision theory. This book taught me far more than most of the courses, and it surely helps me more than all together when it comes to real-life decision making.
I like Keeney's approach in that it is simple but strong. While he does give a strong mathematical foundation, he also explains the intuition behind his theory.
Every time someone asks about what I have learned in the MSc I like to give an example I thought about while reading his book (and using his approach). Let's suppose you are seating on the Sofa and you want to eat something, what do you do? 100% of my friends answered that they go to the kitchen and look for something eat. That's exactly what Keeney is against: to take decisions based on the alternatives (what he calls alternative focus thinking). What his approach would recommend in the described situation, is to stay on the Sofa and think hard about the food that you would mostly like to eat. Than, go to the kitchen and see if you have it. If you do, great! If not, does the pleasure of eating it pay for the pain of going out to buy it? The point is that usually you wouldn't ask yourself this question if you were already in front of the second-best option without knowing what you really want.
The book is well written and full of day-to-day and more complicated examples. All of them applied by the author in his own life or in huge corporations. Very good reading!
10 of 13 people found the following review helpful.
Recommended
By S. D Young
According to Dave Reiter: This book is a bit more complex than Smart Choices. It suggests that you always start with your values/preferences for any decision that you want to make. (I think this is often, but not always, a good idea. I think sometimes you're better off starting with the framing of the decision.) This is also a bit dry.
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