Climbing the Decision-Making Tree

Raphael H Cohen

Chapter 19 in Pre-Project Excellence, 2024, pp 227-238 from Springer

Abstract: Abstract Since selection is an essential component of ISO 56007 and with the understanding that rational Decision-makers prefer evidence-based approaches and factual information, the standard emphasizes the need to define and publish project selection criteria. By publishing their customized version of the IpOp Decision Tree organizations encourage bottom-up innovation, promote fully analyzed projects and concept, and filter out poor ideas. The only example of proven Decision Tree displayed in the annex of ISO 56007 is the IpOp Decision Tree. This chapter presents the IpOp Decision Tree and its benefits in the context of project evaluation and decision-making. The IpOp Decision Tree is a universal tool that helps project teams verify that their project, concept, or Opportunity truly addresses the unavoidable concerns of demanding Decision-makers. Knowing the 11 questions that any experienced Decision-maker should at least ask allows innovators and promoters to prepare accordingly at the pre-project stage in order to produce a compelling case for their idea or to determine that it is not worth pursuing. Heads of innovation as well as PMO’s (project management offices) can also use the IpOp Decision Tree as a robust filtering mechanism to reduce the number of projects in their portfolio. Since using the IpOp Decision tree contributes to optimize the use of Resources in any organization, it fully supports the implementation of the best practices recommended by ISO 56007.

Keywords: IpOp Decision Tree; Projects; Opportunities; Decision-making; Strategic fit; Project selection; Allocation of resources; Stakeholder acceptance; Feasibility; Bottom-up innovation; Opportunity Case; Portfolio of projects; Rational decision-making; IpOp Model; Pre-project; ISO 56007; Unknowns (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-031-61774-4_19

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DOI: 10.1007/978-3-031-61774-4_19

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