The High Return-Low Difficulty model to help with your decision making
About this episode
Management Consultant Nollaig Heffernan joins Emma-Louise Coffey to emphasise the importance of planning around decision making for your farm.
Nollaig explains that good planning and decision making will help achieve your personal goals, leads to more profitability on farm investment and makes your farm a more attractive place to work for family and employees.
Nollaig introduces a LEAN tool, the PICK Model, to help with decision making. The PICK Model considers the Return on Investment and the Level of Difficulty for any task or project you are considering for your farm. Are you willing to invest your time and your money in these tasks/projects?
Ideally all decisions will lead to high return and require low difficulty. Often there are projects that are either low return or high difficulty. Nollaig explains that we must look at these situations and identify how we can improve the circumstances.
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https://www.teagasc.ie/animals/dairy/the-dairy-edge-podcast/
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