Cities need better decision-making, all the more so because of growing global turbulence and acute pressures on limited resources.
Tools to help decision-making must address common problems surrounding accountability, transparency, sophistication (i.e. lack thereof), governance and politics. They encourage long-termism, whilst integrating long-term goals with short term needs and tactical interventions. The exemplar decision-making framework is understood and accepted across the city’s network of participants, and encourages improved awareness at all levels of decision-making and participation.
Best-of-breed decision-making frameworks used in finance — with strong underpinning philosophies and methodologies, characterised by objectivity, robustness and transparency — are ideal candidates for application to the city.