Value-Focused Thinking: A Path to Creative Decisionmaking

by Ralph L. Keeney

The standard way of thinking about decisions is backwards, says Ralph people focus first on identifying alternatives rather than on articulating values. A problem arises and people react, placing the emphasis on mechanics and fixed choices instead of on the objectives that give decisionmaking its meaning. In this book, Keeney shows how recognizing and articulating fundamental values can lead to the identification of decision opportunities and the creation of better alternatives. The intent is to be proactive and to select more attractive decisions to ponder before attempting any solutions.Keeney describes specific procedures for articulating values by identifying and structuring objectives qualitatively, and he shows how to apply these procedures in various cases. He then explains how to quantify objectives using simple models of values. Such value analysis, Keeney demonstrates, can yield a full range of alternatives, thus converting decision problems into opportunities. This approach can be used to uncover hidden objectives, to direct the collection of information, to improve communication, to facilitate collective decisionmaking, and to guide strategic thinking. To illustrate these uses, Keeney shows how value-focused thinking works in many business contexts, such as designing an integrated circuit tester and managing a multibillion-dollar utility company; in government contexts, such as planning future NASA space missions and deciding how to transport nuclear waste to storage sites; and in personal contexts, such as choosing career moves and making wise health and safety decisions.An incisive, applicable contribution to the art and science of decisionmaking, Value-Focused Thinking will be extremely useful to anyone from consultants and managers to systems analysts and students.

Genres: Business, Self Help, Nonfiction, Psychology, Management

434 pages, Kindle Edition

First published April 1, 1992

About the author

Ralph L. Keeney received Ph.D. from the Massachusetts Institute of Technology. He is Research Professor Emeritus of Business Administration, Duke University, and Research Professor Emeritus of Industrial and Systems Engineering, University of Southern California. His areas of expertise are the decision sciences, risk analysis, and systems management. He is an authority on decision analysis, decision making with multiple objectives, and value-focused thinking. During his professional career, Dr. Keeney has consulted on a wide range of decisions including corporate management problems, public policy, environmental problems, and energy decisions.

He has been a consultant for several organizations including Fair Isaac, Seagate Technology, American Express, British Columbia Hydro, Pacific Gas and Electric, BC Gas , Kaiser Permanente, Hewlett-Packard, the Electric Power Research Institute, Greater Vancouver Regional District, Energie Baden-Wuerttemberg AG (Germany), Ministry of Public Works (Mexico), International Institute for Applied Systems Analysis (Austria), U.S. Department of Energy, U.S. Environmental Protection Agency, U.S. Department of Homeland Security, and U.S. Army Corps of Engineers.

Professor Keeney's books, which have been translated into numerous languages, include Decisions with Multiple Objectives with Howard Raiffa (1976, 1993), ValueFocused Thinking: A Path to Creative Decisionmaking (1992), and Smart Choices: A Practical Guide to Making Better Decisions, with John S. Hammond and Howard Raiffa (1999). He recently received an honorary doctorate from the University of Waterloo in Canada and is a member of the National Academy of Engineering of the U.S.

Reviews

[Tillo · Rating 5 out of 5]

Systematic approach to value thinking or decision making process, must read book for managers.

[Jonathan Cummings · Rating 5 out of 5]

There are easier entries into the decision science literature, but this still holds up as the seminal work on the subject of identifying and accounting for objectives in decision making.

[Xun Liao · Rating 4 out of 5]

Good philosophy of Transforming the way of thinking!

[John Buchanan · Rating 4 out of 5]

A sensible and coherent argument from a pioneer in the field

[Abhi]

http://lesswrong.com/lw/gdq/valuefocu...