#TALK

How to make better decisions

While HOW to make decisions is important, the WHEN to make decisions is critical to your chances of success.

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While HOW to make decisions is important, the WHEN to make decisions is critical to your chances of success.

Timing is everything, however deferring commitments causes stress to many people. Real options helps you manage that stress by creating bounded uncertainty in an context of total uncertainty. This is not a simple process that you copy and learn to adopt through practice. This is a new way at looking at the world around you that starts by learning to differentiate between options and commitments. Olav helps do this through an interactive exercise.

It turns out that the way you manage your options is to focus on commitments and attempt to avoid or defer them. After identifying commitments, Olav discuss creating options to turn the commitments into reversible commitments.

Chris Matts and Olav Maassen have recently created “Commitment”, the first graphic business novel about managing project risk. Because they eat their own dog food Real Options plays a big part in the creation part of the book as well. Olav presents the creation process as a case study about applying Real Options and how that leads to different behavior.

Finally Olav presents a number of mini case studies where other people have applied Real Option thinking in “out of the box” situations. Once you get it, it will change your life.