Improving Resilience & Risk-Based Decision Making workshops organised by BCCA were held in Gaeta and Coalstoun Lakes back in September 2019. Presenter Cam Nicholson from Nicon Rural Consulting, aimed to explore the decision’s landholders make on a daily basis and the idea that just because we make decisions all the time doesn’t mean we are good at making them.
When making a good decision for your agricultural enterprise, landholders were asked to consider – 1️⃣ Will they be able to handle the consequences of their decision, 2️⃣ Have least regret if it doesn’t go according to plan and 3️⃣ Increase the chance of favourable outcomes. The three influential components which contribute to our decision making process, head, heart and gut, are all intertwine for landholders to be able to make decisions. Better understanding of these forces when considering the type of decision, the risks involved and the temperament of the decision maker will strengthen awareness and their approach towards decision making.
With a better understanding of the concepts of how decisions are made and how landholders considering risk, Cam introduced the concept of decision framework to the workshop participants. A decision matrix tool designed to help landholders make decision; when to start selling stock or how much area to sow with seed. These tools can be particularly useful for the primary decision maker to explain how they arrived at a decision, so others in the farming enterprise can better understand how the decision was made and improve communication within the business. The good thing about the matrix approach, is that they can be refined over time with increased knowledge and building on experiences. A very valuable tool for any agricultural enterprise.
If you weren’t able to attend the workshops or need a refresher, Cam has put together a short video on the process of enhancing your decision making skills to run an efficient, profitable and sustainable farm business.
Workshops were funded by the Queensland Government Reef Water Quality Program with support from Burnett Mary Regional Group and Burnett Catchment Care Association.