San Francisco, Calif. (PRWEB) February 13, 2016 -- The Society of Decision Professionals (SDP) today announced that Lilly Research Laboratories (the research and development arm of Eli Lilly and Company) has been awarded the Raiffa-Howard Award for Organizational Decision Quality.
Lilly Research Laboratories was selected for its unique and long term commitment to making Decision Quality an organization-wide competency that directly contributes to the company’s successful track record in effectively managing its drug research and discovery efforts, guiding its drug development programs, and delivering medicines to make life better for people around the world.
Decision analysis is the discipline incorporating decision theory, methodology, and professional practice
guiding decision-making under uncertainty. “While elements of decision analysis have existed for
hundreds of years, it was the work of Professor Howard Raiffa of Harvard University and Professor
Ronald Howard of Stanford University beginning in 1964 that brought it into mainstream use by giving us a logical and systematic set of principles to enhance our clarity of thought and enable us to act with confidence in the face of uncertainty. Corporations and government entities now have the tools to make important and complex decisions,” said Jack Kloeber, President of the Society of Decision Professionals, an association of professional practitioners.
“We are delighted to honor Lilly Research Laboratories with the Raiffa-Howard Award for their long time and successful application of Decision Quality. We are particularly excited to see the application of Decision Quality, utilized by this world class organization, to improve the health and well-being of humankind.” said Larry Neal, Vice-President of the Society of Decision Professionals.
The award will be presented at a special celebratory event on April 7, 2016. The award ceremony will be held during the Decision Analysis Affinity Group (DAAG) annual conference at the Banff Park Lodge in Banff, Calgary, Canada.
The Discipline of Decision Analysis: Decision analysis emerged as a distinct academic field in 1964, building on developments in statistical decision theory and game theory by Raiffa and dynamic probabilistic systems by Howard. In that year, Raiffa began teaching the first university course in decision analysis within the Economics Department at Harvard and began preparing material for his 1968 book, Decision Analysis. Also in 1964, but independently, Howard conducted the first professional application of the field he called “decision analysis,” which he described in his 1966 paper, “Decision Analysis: Applied Decision Theory.” Since then, major corporations have adopted decision analysis to improve multibillion dollar capital decisions.
The Society of Decision Professionals (SDP) supports decision professionals to become the trusted advisors of choice for decision makers facing important and complex decisions. The Society fosters collaboration, continual learning, and networking amongst its members and other professional societies and organizations so that as a growing community we can bring clarity and insight to decision-makers.
For more information, visit http://www.decisionprofessionals.com
Hilda Cherekdjian, Society of Decision Professionals, http://www.decisionprofessionals.com, +1 (650) 427-0192, [email protected]