“Analysis paralysis” (Yes, it exists!) can hit us all when faced with a challenging decision. Often, we wish to avoid making the “wrong” choice so we expend a huge amount of energy analyzing every possibility or potential disaster.
On the flip side, sometimes we are convinced that we know what the best solution is. Decisions are quick and subsequently. Sometimes, we can omit poignant alternatives.
Weighing up the “pros and cons” is a simple but effective decision-making strategy. It is well known for highlighting different angles, solutions, and assured choices. This article will address using iStratus to analyze the pros and cons of a choice quantitatively for all-around well-informed decisions. We hope this process will help you become more productive and efficient at decision making.
Quantitative Pros and Cons – What Are They?
Weighing up the pros and cons can improve your understanding of a situation and help avoid decision-making paralysis. Using a simple “pros” and “cons” list encourages objective decisions without those “gut feelings” impacting choice. It boosts perspective and can help one reach a balanced, informed decision.
One side is likely to feature more points than the other in countless situations. Thus, making the decision-making process easier. iStratus’s Checklist feature easily highlights your thoughts. When constructing a “Pros and Cons” list, select the format that works best for you.
Creating a Pros and Cons List Effectively
To achieve the best results from a pros and cons list, iStratus suggests organizing and undertaking the process as follows:
- Choose a way of populating your desired list
- Brainstorm and list the pros of each decision
- Examine and note the risks or cons associated with the decision
- Include any potential third-party pros and cons
Applying Quantitative Pros and Cons
Weighing up the pros and cons of a decision is a quick and easy process with iStratus. In simple terms, it is one side versus the other by listing all of the possible positive outcomes of the decision and all the negative ramifications.
We suggest assigning a positive or negative value to each one with all factors considered and recorded. A score of 5 on a scale of 1 to 5 may be strongly favorable while 1 may be unfavorable. The intention is to try to score as objectively as possible not leaning with bias!
Once your rating scale is complete, total the score in each column and subtract the amount of “cons” from the “pros”. Ultimately a more positive overall score indicates a benefit while a more negative indicator suggests to scrap it.
Remember, common sense is also vital. These lists aren’t necessarily definitive right off the bat. If you suspect the overall solution isn’t appropriate, commit some further time towards identifying factors likely to have been missed or omitted.
Some advantages could be obvious immediately whereas others are potentially discovered following meticulous thought and reasoning. Posing certain questions can also underline the benefits associated such as:
- What are the fundamental benefits of this decision?
- What favorable outcome would be accomplished that you don’t currently have?
- What could be further accomplished?
- How will this contribute to your current goals?
- How does this option impact other people in your life?
- How does it position you for success in the future?
The cons chart should include reasons why a decision is not in the best interest. It should also list in potential consequences or undesirable outcomes.
Once more some indicators will be obvious, such as distances or the amount of time and investment required. While other cons will require examination of your intended goals. Questions to assist in determining specific cons might include:
- What are the risks correlated with this decision?
- What are you sacrificing?
- What significant challenges does this decision present? Are they conquerable?
- How would this position or choice impede other goals?
Tip:
Set a time limit for decision-making. This encourages brainstorming issues without over-analyzing the “nit-picky” details.
Set Your Direction But Be Flexible
Weighing up pros and cons is a quick, simple way to make objective, considered decisions. Quantifying options helps you to weigh your decisions and come to thoughtful conclusions. Each decision is important so must be processed throughly. Seeing some sort of total will help you to decide whether it’s worthwhile going ahead with something or not.
“Good plans shape good decisions. That’s why good planning helps to make elusive dreams come true.”
~ Lester R. Bittel
Mastering these skills and using the simple checklist tools within iStratus, can help your future decisions flourish, regardless of what the context is. We must emphasize all of this advice doesn’t necessarily mean that this is the choice you MUST stick like glue with. Be flexible, go easy on yourself, and take time. There are pluses and minuses to everything decision. Direction and planning simply provide a sense of balance in what can be a crazy world.