Decision-Making

Study guides: Exam CFE-101, Exam CP-311, Exam DMAC

"Decision-making is the act of choosing between two or more courses of action."

• A Theoretical Approach to the Effective Decision-Making Process(Andreis - 2019)

There are many academic fields of study that investigate decision-making, such as operations research, behavioral science, artificial intelligence, philosophy, economics, and psychology.

Central Problems in Decision-Making

1. Uncertainty: How we measure uncertainty in our decisions?
2. Constraints: How do we make the best possible decisions under internal and external constraints?
3. Trade-offs: How do we measure trade-offs of decisions, relative to our goals?
4. Learning: How do we learn to make better decisions?
5. Collaboration: How do we make decisions with others when we don't always agree?

Read More

• Collaboration
• Methods of Decision-Making