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Recommended Reading

Book Title : Decision Traps

Authors: J. Edward Russo and Paul J.H. Schoemaker

Executives rate decision making ability as the most important business skill, but few people have the training they need to make good decisions consistently. Becoming a good decision-maker is like training to be a top athlete: Just as the best coaches use training methods to help athletes develop proper techniques and avoid mistakes, Dr. J. Edward Russo and Dr. Paul J.H. Schoemaker have developed a program that can help you avoid "decision traps" – the ten common decision making errors that most people make over and over again. Dr. Russo and Dr. Schoemaker have improved the decision making skills of thousands of Fortune 500 executives with this program. Now you can use their decision-making techniques to make sure that your last bad decision was your last bad decision.

   
   
Book Title : Decisions with Multiple Objectives

Authors:  Ralph L. Keeney and Howard Raiffa

Many of the complex problems faced by decision makers involve multiple conflicting objectives. This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe his true feelings in order to make those critically important, vexing tradeoffs among incommensurable objectives. The theory is illustrated by many real concrete examples taken from a host of disciplinary settings. The standard approach in decision theory or decision analysis specifies a simplified single objective like monetary return to maximize. By generalizing from the single objective case to the multiple objective case, this book considerably widens the range of applicability of decision analysis.

   
   
Book Title : Introduction to Decision Analysis

Author: David C. Skinner

David Skinner shares the wealth of his experience and expertise about decision making in a clear, practical way. The additional material and insight recorded in the Third Edition reflect his own growth as a "DA" consultant and maturing of his thinking. This book is an excellent resource for managers, technical professionals, and decision analysts, regardless of your experience level with decision analysis.

   
   
Book Title : Making Hard Decisions

Author: Robert T. Clemen

This best-selling and up-to-date survey of decision analysis concepts and techniques is accessible to students with limited mathematical backgrounds. It is designed for advanced undergraduate and MBA-level courses in decision analysis and also for business courses in introductory quantitative methods.

   
   
Book Title : Portfolio Decision Analysis
publisher

Authors: Jeffrey Keisler, Jack Kloeber, Dr Alec Morton, Ahti Salo, et al.

Portfolio Decision Analysis: Improved Methods for Resource Allocation provides an extensive, up-to-date coverage of decision analytic methods which help firms and public organizations allocate resources to "lumpy" investment opportunities while explicitly recognizing relevant financial and non-financial evaluation criteria and the presence of alternative investment opportunities. In particular, it discusses the evolution of these methods, presents new methodological advances and illustrates their use across several application domains.
The book offers a many-faceted treatment of portfolio decision analysis (PDA). Among other things, it (i) synthesizes the state-of-play in PDA, (ii) describes novel methodologies, (iii) fosters the deployment of these methodologies, and (iv) contributes to the strengthening of research on PDA. Portfolio problems are widely regarded as the single most important application context of decision analysis, and, with its extensive and unique coverage of these problems, this book is a much-needed addition to the literature. The book also presents innovative treatments of new methodological approaches and their uses in applications.
The intended audience consists of practitioners and researchers who wish to gain a good understanding of portfolio decision analysis and insights into how PDA methods can be leveraged in different application contexts. The book can also be employed in courses at the post-graduate level.

   
   
Book Title : Portfolio Management for New Products

Authors:  Robert G. Cooper, Scott J. Edgett, and Elko J. Kleinschmidt

In this fully updated edition of Portfolio Management for New Products, the authors present a rigorous and practical approach to managing a company's product portfolio as you would a financial portfolio-investing for maximum long-term growth. With its field-tested, step-by-step framework, the book provides corporations and managers with the strategies they need to assess and realign their current R&D operations; determine which products are most worthy of resource allocation; design and implement a portfolio management process; maximize the value of their portfolios; and recognize and solve challenges as they arise. This book will be an essential resource for any company whose profitability, and very existence, relies on the products it chooses to develop and the speed with which it brings them to the market.

   
   
Book Title : Risk Modeling for Determining Value and Decision Making

Author:  Glenn Koller

Presents comprehensive examples of risk/uncertainty analyses from a broad range of applications. Offers discussions on how to make decisions using each risk process or model and the insights each can provide.

   
   
Book Title : Smart Choices

Authors: John S. Hammond, Ralph L. Keeney, and Howard Raiffa

Smart Choices outlines eight elements involved in making the right decision, from identifying exactly what the decision is and specifying your objectives to considering risk tolerance and looking at how your decisions today influence what you may decide in the future. The book is full of real-life situations and scenarios that effectively illustrate each element of a good decision. If you think the topic of making the right choice is mundane or a simple matter of common sense, then think again. Smart Choices will relieve you of the regret that so many of us carry because we didn't know how to "think it through." --Harry C. Edwards

   
   
Book Title : Strategic Decision Making

Author: Craig W. Kirkwood

Intended for courses in multiobjective decision analysis or as a supplement to a first course in decision analysis, this text emphasizes practical applications and problem solving. Students learn how to use spreadsheets and other analytical tools in considering such important tradeoffs as cost versus quality and market share versus short-term return on investment.

   
   
Book Title : Third Generation R&D

Authors: Philip A. Roussel, Kamal N. Saad, and Tamara J. Erickson

Third Generation R&D, written by three senior consultants from Arthur D. Little, provides managers with a new approach that will make R&D a truly competitive weapon. The authors relate how R&D management has evolved from the naive "strategy of hope" approach of the 1950s and 1960s, when companies spent lavishly in the vague expectation that something good would result, to the more systematic approach of the past two decades. But it is clear that a new generation of R&D management is needed, one that makes the connection between R&D and broader issues of corporate strategy. The third generation of R&D is a pragmatic method for linking R&D to long-term business planning. It shows managers how to integrate technology and research capabilities with overall management and strategy; break down organizational barriers that isolate R&D from the rest of the company; foster a spirit of partnership and trust between R&D and other units; and create managed portfolios of R&D projects that match corporate goals.

   
   
Book Title : Value-Focused Thinking

Author: Ralph L. Keeney

In this book, Ralph Keeney turns standard decision-making 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 decision-making its meaning: it is through recognizing and articulating fundamental values that we can better identify decision opportunities – and thereby create better decision alternatives.

   
   
Book Title : Winning Decisions

Authors: J. Edward Russo and Paul J.H. Schoemaker

Making "good, fast, frequent decisions...better than those with whom you compete," say J. Edward Russo and Paul J.H. Schoemaker, is a critical skill in today's business climate. They additionally believe it's a skill that all of us can learn, much like a proper golf swing. In Winning Decisions, they lay out a four-step process that constitutes "a broad, conceptual framework" applicable in virtually any situation where a decision is needed. Russo and Schoemaker, consultants and professors who collaborated on an earlier book about the roadblocks to proper decision making, turn their attention here to making decisions "with the head, not the gut." Their program is divided into four phases fully explained in their own sections: Framing, Gathering Intelligence, Coming to Conclusions, and Learning from Experience. In total, they reveal a disciplined system that will benefit anyone looking to make better decisions in just about any situation.