Decision-Making Frameworks
Make choices more deliberately instead of by impulse.
Hanlon's razor
never attributing to malice that which is adequately explained by stupidity or neglect
regret minimization framework
projecting yourself into the future to see which choice you'd regret least at age 80
circle of competence
making decisions only within the areas where you have genuine knowledge and experience
the 5 whys
repeatedly asking 'why' to peel away symptoms and find the root cause of a problem
survivorship bias
focusing on successes while ignoring the 'invisible' failures that used the same strategy
skin in the game
ensuring decision-makers share in the risks and consequences of their choices
Occam's razor
choosing the simplest explanation or solution with the fewest assumptions
Decision Fatigue
the decline in the quality of choices made after a long session of decision-making
Cynefin framework
sorting problems into clear, complicated, complex, or chaotic contexts to determine action
First Principles thinking
breaking a problem down to its fundamental truths and building up from there
Inversion
approaching a problem by considering how to avoid the worst possible outcome
Eisenhower Matrix
categorizing tasks by urgency and importance to prioritize action
satisficing
choosing the first option that meets the minimum criteria rather than the optimal one
confirmation bias
favoring information that confirms your existing beliefs while ignoring contradictions
pre-mortem
imagining a project has failed and working backward to determine the causes
second-order thinking
considering the consequences of the consequences of a decision
irreversible decision
a 'one-way door' choice that is difficult or impossible to undo
sunk cost fallacy
continuing an endeavor only because of past resources already spent
analysis paralysis
overthinking a decision to the point that no choice is made
10-10-10 rule
considering how you will feel in 10 minutes, 10 months, and 10 years
Pareto principle
focusing on the 20% of causes that produce 80% of the results
opportunity cost
the value of what you give up by choosing something else
reversible decision
a choice that can be undone with limited cost
pros and cons
list likely benefits and drawbacks before choosing