Decision-Making: The Process Of Decision Making

In reality it seems to be that most infrastructure projects aren’t overrun by good decision makers. However we remember bad project decisions very well then good decisions.

Some of that is due to our tendency to notice and recall exceptions vs. all the times things go as planned. It’s not that project managers don’t have the capacity to make high-quality decisions in them but as it’s a distinctly human activity it create different results.

As a human we all are making decisions all the time but the fact that we’re making decisions doesn’t by itself make us good decision-makers. It is only discipline which makes us good decision makers. It is always to be noted that project peoples which are decision makers always proactive and they are able

The project planners or risk managers who make decisions at project site able to see opportunities where others see problems. They are able to make quality choices in the face of uncertainty and able to turn thought into action.

As per Wikipedia, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities. Every decision-making process produces a final choice that may or may not prompt action. Decision-making is the process of identifying and choosing alternatives based on the values and preferences of the decision-maker. Webster’s Dictionary adds some richness to the idea of choice by introducing the idea of uncertainty. It has this to say about the word decide, the root of

Whether in our daily lives or in professional settings, there are typically multiple (conflicting) criteria that need to be evaluated in making decisions. Cost or price is usually one of the main criteria. Some measure of quality is typically another criterion that is in conflict with the cost. In purchasing a car, cost, comfort, safety, and fuel economy may be some of the main criteria we consider. It is unusual that the cheapest car is the most comfortable and the safest one. In portfolio management, we are interested in getting high returns but at the same time reducing our risks. Again, the stocks that have the potential of bringing high returns typically also carry high risks of losing money. In a service industry, customer satisfaction and the cost of providing service are two conflicting criteria that would be useful to consider. Further as per Wikipedia, MCDM is concerned with structuring and solving decision and planning problems involving multiple criteria. The purpose is to support decision-makers facing such problems. Typically, there does not exist a unique optimal solution for such problems and it is necessary to use decision-maker’s preferences to differentiate between solutions. "Solving" can be interpreted in different ways. It could