THE FIVE STEPS OF THE ALLOVANCE METHOD.
Simplifying decision making with data
Biases in decision making vs Allovance Method
The Allovance Method helps users avoid these traps when making decisions.
What you see or hear first feels most important.
We developed our own systematic approach based on a balanced scorecard.
We prefer things to stay the same.
We evaluate projects independently and select those that are strategically aligned.
We make decisions that justify past choices.
We dynamically take into consideration changes in priorities.
We seek information that supports our existing view.
We utilize a structured process to lay out a step-by-step approach to capital allocation.
The way we state the problem influences what we decide.
We leverage a concuss building model that evolves the true strategic priorities.
These are made without clear feedback about accuracy.
We analyze real time variance to minimize deviation from strategic priorities.
Influenced by information received prior to your decision.
We systematically score projects so that all information is considered.
Teams select a project that seems desirable to them.
We justify project selection based on input to avoid workarounds.
Skews the decision to the most influential person in the room.
We separate strategic prioritization from project selection.
Individuals select projects based on personal bias.
We built collaborative tools to allow all users to participate in the decision making process.
Using one criterion to make decisions & ignoring the rest.
We ensure all criteria is considered by delivering a strategic value scorecard.
Individuals make snap judgments based on first impressions.
We ensure 100% consideration by formalizing the process of evaluating and scoring projects.