To create an evolving resource & set of processes to empower better decision making in both individual and institutional situations to minimize unnecessary mistakes and risks.
WHAT? I THOUGHT EVERYONE ALREADY DID DUE DILIGENCE?
Due Diligence has been around for hundreds of years in various shapes and guises. It is time that we redefine Due Diligence. Due Diligence has for too long been mistakenly defined and thought of as a noun. Traditionally Due Diligence has been defined as follows:
due dil·i·gence (noun)
reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something.
However, we feel there is a better way. Due Diligence is not a thing, it is an action, a process that we do. Thus we redefine Due Diligence as
due dil·i·gence (verb)
Due Diligence is the process to make the best possible, well informed decisions in any situation. It is a situational investigation process utilizing a standard of care to create a comprehensive picture of the situation to empower better decision making. Due diligence provides you a structured, systematic program for planning, identifying, prioritizing, collecting and analyzing appropriate, relevant, necessary data; in order to create processes that provide a consistent, efficient, and methodical approach supporting fundamental decision management.
So why should Due Diligence matter to you? Every one talks about due diligence, but by learning proper IDDO Due Diligence processes, you can save yourself from making mistakes that you just don’t have to. It is common for instance for people to mistakenly think audits and just crossing your t’s and dotting your i’s as due diligence. Little could be further from the truth.
Due Diligence is the process to make the best possible, well informed decisions in any situation. It is a situational investigation process utilizing a standard of care to create a comprehensive picture of the situation to empower better decision making.
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