Smart Choices study plan

Define the six core elements of a decision problem (problem, objectives, alternatives, consequences, trade-offs, uncertainty) and write a one-paragraph summary of each in your own words

Distinguish normative, descriptive, and prescriptive accounts of choice, and classify ten everyday decisions you have made under each lens

Generate at least eight alternatives for two real personal decisions, deliberately including one 'do nothing' and one creative option you would not normally consider

Construct a basic objectives hierarchy for a live decision, separating fundamental objectives from means objectives

Identify and label three decision traps (e.g., anchoring, status quo, sunk cost) in short written scenarios you compose yourself

Map the decision lifecycle from framing through implementation and review, and annotate where each domain of the exam applies

Explain the difference between risk (known probabilities) and uncertainty (unknown or contested probabilities) using two self-written examples

Build a simple payoff table for a decision with three alternatives and three future scenarios

Compute expected value for each alternative in that table and interpret what the number does and does not tell you

Describe how a decision tree represents a sequential choice and sketch one with at least two decision nodes

Rewrite three badly framed decision statements into neutral, option-opening frames that avoid yes/no and either-or phrasing

Detect and correct framing effects by restating the same outcome in gain and loss terms and noting how preference shifts

Test an objectives set for completeness by asking 'what would achieving this get me?' until you reach fundamental values

Expand an alternatives set using at least four ideation prompts (e.g., scale up, scale down, unbundle, combine, defer)

Identify the decision frame's scope and time horizon explicitly for two decisions and note how changing either alters the option set

Distinguish relevant from irrelevant information and screen a set of facts for sunk costs, anecdote, and availability bias

Design a short information-gathering plan specifying what you need to know, likely sources, and a stopping rule

Estimate a range for an uncertain quantity using a three-point (low, most likely, high) approach and justify the spread

Apply a sensitivity check to your payoff table by varying one key assumption and recording whether the preferred alternative changes

Explain base rates and give one worked example where ignoring a base rate would mislead a decision maker

Classify five uncertainties from your own decisions as aleatory or epistemic and state which are reducible by further information

Construct a risk profile listing the best, worst, and most likely outcome for each alternative in one decision

Apply expected utility reasoning to a case where expected value and stated preference diverge, and explain the divergence

Build a weighted scoring model with at least five criteria and three alternatives, then test whether the ranking survives a change in weights

Make a trade-off explicit by stating what you are willing to give up for what, in one sentence per trade-off

Elicit stakeholder interests by writing a stakeholder map with each party's objectives, influence, and likely objections

Design a process for a group decision that separates idea generation from evaluation and states how disagreement will be resolved

Identify three group pathologies (e.g., groupthink, anchoring on the first speaker, diffusion of responsibility) and propose a concrete countermeasure for each

Practice surfacing a dissenting view by writing the strongest argument against your own preferred alternative

Compare at least two aggregation approaches (e.g., voting versus consensus versus leader decides after input) for a specific group decision and justify a choice

Translate a chosen alternative into an action plan with owners, deadlines, and required resources

Pre-commit to review checkpoints and define in advance what evidence would trigger a change of course

Distinguish outcome quality from decision quality and write one example of a good decision with a bad outcome

Draft a short after-action review template covering what was expected, what happened, and what to change next time

Set up a simple tracking mechanism for two live decisions so results can be reviewed against predictions

Consolidate all eight domains into a single one-page decision checklist you can reuse

Re-work two earlier journal entries using the full checklist and note what you would now do differently

Self-test on weak areas identified in weeks 1 through 7 and log every concept you could not explain from memory

Explain each of the eight domains aloud in under two minutes without notes

Write a personal decision-making protocol for the next quarter naming the three habits you will keep