Board Members Using Pareto Analysis

The 80/20 Rule: Solving Board Problems with Pareto Analysis

The 80/20 Rule (also known as the “Pareto Principle”) is an incredibly useful tool for prioritization in problem-solving. Let’s pause for a brief second: it’s important to note up front that we are not exaggerating here. Yes, the steps to Pareto analysis are complicated. But we’ve walked you through a lot of decision-making and problem-solving tools before. We can confidently say that Pareto analysis is one of the most powerful tools boards can use to make strategic, well-informed decisions (second only to Directorpoint’s board management software, of course).

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Fishbone Diagrams in Board Decisions

Fishbone diagrams, also known as “Ishikawa diagrams”, were conceived by organizational theorist Dr. Kaoru Ishikawa in the 1920’s. Today, they’re used in the analysis phase of SixSigma’s DMAIC problem-solving method. The diagrams focus on identifying the “root cause” of an “effect” (an issue or problem).

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Comparing Delphi and NGT Decision Techniques

Two of the most popular tools for evaluating and prioritizing ideas are the Delphi Technique and the Nominal Group Technique (NGT). But, do enough research on decision-making strategies and they all start to blur together. Let’s take a closer look at how each technique works, and when they’re best used.

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Multivoting Technique

Multivoting is a technique used to narrow down and prioritize a large list of ideas. Multivoting can be helpful in determining which ideas to pursue at the end of a brainstorming session. This technique is sometimes known as the N/3 technique. The instructions for performing this technique vary by the source, so we’ve put together an amalgam of everything we could find. Continue reading

The Delphi Technique Cheat Sheet

What is the Delphi Technique?

The Delphi technique provides a board of directors with a thorough, easy-to-follow structure for generating, examining, and prioritizing ideas and solutions. This technique is perfect for boards tasked with making well-informed, high stakes decisions. Continue reading

nominal group technique

NGT and You: Effective Governance Through Nominal Group Technique

Directorpoint President John Peinhardt has said that “brainstorming is the separation of idea generation and idea evaluation”. There is, perhaps, no better way of maximizing the benefits of brainstorming in the decision making-process than NGT. Nominal group technique (NGT) is a form of structured small-group discussion designed to more effectively and efficiently reach a consensus. Continue reading