Principle 7: Factual approach to decision making
1. Contents of Factual approach to decision making
Effective decisions are based on the analysis of data and information.
2. Benefits of Factual approach to decision making
• Increased ability to review, challenge and change opinions and decisions.
• Informed decisions.
• An increased ability to demonstrate the effectiveness of past decisions through reference to factual records.
3. Process / Steps of Factual approach to decision making
• Take measurements and collect data and information relevant to the objective.
• Ensure that the data and information are sufficiently accurate, reliable and accessible.
• Analyze the data and information using valid methods.
• Understand the value of appropriate statistical techniques, and
• Make decisions and take action based on the results of logical analysis balanced with experience and intuition.