Sunday, April 13, 2008

Pros, Cons, and PMI

I'm still at it folks. And we have coffee up so come and join me. Here's a topic some of us might be familiar with because its been used for awhile.....a few hundred years awhile. What PMI stands for is "Plus/Minus/Interesting". Kinda simple right. Oh and it gets better. Much like a prior theory, you'll be making another table/graph. Go to http://www.mindtools.com/pages/article/newTED_05.htm
if you need help in doing this. This might actually be one, if not, the simplest decision making theory out there. So you want to make a decision you make out this graph and right down each positive, negative, and interesting (PMI) fact of a decision and get each a score. You add up the score and which ever totals out more, thats your decision. Wow and life just got easier, maybe. I know what your thinking, 'Andy, didn't we just do this one a few theories ago?'. Well yea kind of but it is different even though it does still work off the same premise. You just need to now decide how much each positive/negative/interesting point is worth. The model was based on a 1 to 5 scale but you might need to expand it to a 1 to 10 perhaps. So try it at home and get back to me if it works. I know I'm going to try it.

1 comment:

Vicki said...

So, what happened when you tried it?

There are two sets of assumptions you need to evaluate. First is that the various criteria are substitutable. Does a high score on one offset a low score on another. Second are the weights meaningful.

How might a DSS help a decision maker evaluate those assumptions?