Decision Making

In this "5 Minutes Podcast" episode, Ricardo discusses topics 6 to 10 of the research on AI in project management. Topic 6 reveals that 25 to 26% of experts see AI as a tool to enhance diversity and reduce bias, while Topic 7 highlights the concerns of 75% regarding AI's ethical implications, particularly in decision-making.

In this episode, Ricardo discusses the Minimax Strategy, highlighting its role in decision-making under uncertainty. Instead of focusing on the technical aspects of the algorithm, he explores its philosophical underpinnings. He underscores how this approach aids in prioritizing risks that could inflict the most significant loss on a project.

In this episode, Ricardo discusses the tragedy of the Titan Submersible, highlighting what we can learn from this deep-sea catastrophe. He discusses the inherent complexities of oceanic exploration and their implications on project management, using the submersible's story as a case study.

In this episode, Ricardo introduces the timeless philosophy of Occam's Razor, a principle that champions simplicity. Coined by 14th Century philosopher William of Ockham, this concept prompts us to choose the most straightforward explanation or solution when faced with equally good alternatives. He discusses how this principle can streamline our approach to project management.

In today's episode, Ricardo guides you through the fascinating world of second-order consequences, focusing on the Cobra Effect. He explores how solutions that seemed reasonable in the short term can sometimes spawn more complex issues in a project environment if not adequately anticipated. Ricardo suggests you rethink your decision-making process and underline the importance of considering all potential outcomes before deciding.

In this week's podcast, Ricardo discusses some common mistakes that can be made when making decisions in various contexts, such as a project. Our decision may have positive and negative consequences depending on the circumstances because we may have to sacrifice to achieve our objectives. To avoid errors, we must first understand the relationship between the decision and its outcomes (a good result does not always mean a good decision).

In this week's episode, Ricardo talks about the moment to get out of a certain situation and discusses three essential points based on the book "Quit" by Annie Duke. People are socialized to believe that staying in a harmful situation is a virtue, so the idea of stopping what is toxic, whether professionally or personally, is often seen as a negative choice and a demonstration of fragility.

Learn with Ricardo Vargas the main aspects of technology maturity and the costs and risks associated with using more or less mature technology. NASA developed this tool in the 70s, but many organizations currently use it to understand the risks associated with using a specific technology on a project. Be mindful that technology here is not only IT-based. It can be a new type of concrete, material, disruptive organizational design, etc.

This week, Ricardo discusses decision-making processes in the context of projects, the "governance" component of the environmental, social, and governance (ESG) acronym. He explains that knowledge of governance, the organizational framework used to oversee projects, is crucial for effective decision-making. This structure and processes are used to make decisions about approving changes and planning the next steps based on project findings.

How many times we were faced with a challenge to decide in our personal life? Follow Ricardo Vargas on a journey to use a mathematical model to select the best house for you to buy. AHP is one of the most reliable tools for you to improve your decision making and apply it on your work and daily life. Created by Thomas Saaty, AHP is considered today the best approach to remove bias and increase your assertiveness in making decisions.

In this week's episode, Ricardo makes an analogy between the book "The Burnout Society" by the Korean philosopher Byung-Chul Han and our current work. The book talks about how the pressure we put on ourselves to break the limits has produced a sick society. Ricardo's analogy centers on our choice process. Companies want to do everything without investing in anything.

In this week's episode, Ricardo talks about accountability and the discomfort we face most of the time when making decisions. Having the chance to make decisions are one of the most significant freedom examples we have. However, it comes with a lot of pain because we do not know precisely a decision is correct or not. If we take only the professional lens, we have to make decisions constantly, bringing stress, but we have no other option.

Ricardo starts 2018 sharing some tips on how to prepare yourself for the year that is coming. He approaches the need to stay tuned with the technology advancements, as also the attitude and behavior related to the decision making, the amplification of your knowledge base, and finally, the management of our fears when facing the unknown.

In this episode, Ricardo talks about the concept of the OODA loop. The phrase refers to the decision cycle of Observe, Orient, Decide, and Act, developed by military strategist and the United States Air Force Colonel John Boyd. Boyd applied the concept to the combat operations process, often at the strategic level.