EKA PILLAI

Decisional Balance Sheet is one of the simple continuous improvement tools widely used for taking both personal and professional decisions . This is probably carrying the DNA of SWOT analysis approach but here the elements are much more fundamental and prima-facie visible than using analytics to arrive at for assessment . 
It follows a simple matrix which can look like quadrants with both Pros and Cons listed on ta tabular format and weightage is given on for or against to arrive at the net scope and which ever dominates in pros and cons would be the decision which one can take .
If we take a try primitive example of a personal issue on which one has to take a decision .
Whether I should move my home near workplace ? The below example would give the pros and cons which carries merits and disadvantages of various elements including , financial , time , health , social angles etc . 
 

 

This can be extended to a PMI which is known as the Plus -Minus-Interesting as well . We can also introduce short term and long term benefits of few decision and give weightage for  few elements which can be finally calculated for arriving at the net effect . 
 
In a professional environment when we have to take a decision in an organisation with collective in-put from many the following example can be quoted 
Whether to implement ERP solutions in the organisation or not ?

 
Decision matrix is a evolved and more sophisticated form of Decisional Balance Sheet 
Balanced score card is again the top end of this concept which is a hybrid between a Financial balance sheet and Elements causing the effects on the financials . 
Even in Psychological domain this concept is used in ABC model and also in DBT - Dialectical Behaviour Therapy .