Role in Decision-making

Any organisation survives by engaging in projects.and production processes, including production of graduates from colleges and universities. For meaningful survival every project or production intent has to be formulated through the methodology comprising : 

(a)  analyse the need; 

(b)  define the problem that one wishes to attempt at in respect of need-satisfaction; 

(c)  develop design (or scope of business) criteria; 

(d)  generate alternatives -technologies, processes, sequences, etc. to concretion the design; 

(e)  check for physical feasibility -too thin a boiler plate can lead to other problems though thermodynamic ally very efficient; 

(f)  check for economic feasibility; 

(g)  check for financial and inputs feasibility; 

(h)  optimist the system (for each of the alternatives); 

(i)  evaluate and select the best solution; 

(j)  implement these solutions; 

(k)  use feedback and control; and 

(1)  develop data-bank for future guidance and/or caution. 

In the above, (a) to (c) constitute project/decision/problem definition; (d) to (i) constitute project analysis (or decision-making); (j) and (k) constitute project implementation/experience (or decision-execution). Also steps (d) to (i) are interlinked and are collectively iterative. 

Step (k) requires reporting on actions taken and results achieved in relation to targets set, and in relation to overall objectives and goals of the organisation. 

The accounting function has a role, and an important one at that, in steps (d), (f), (g), (i) to (1). Moreover, steps (a) and (b) are also to be involved in and this provides the link between the planning and control functions. Steps (d), (f) and (g) as also (1) go with the planning function. Steps (j) and (k) go with the control function.