02 Oct 2012

Decision-Making Best Practice 18 – Dealing with Assumptions

Decision-Making, Premium No Comments

All choices require the decision-maker to deal with a degree of uncertainty and ambiguity. Many times the information needed to make the highest quality decision simply does not exist, is unavailable to the decision-maker, or cannot be identified within the decision's needed timeframe. Consequently, these information gaps are filled with assumptions - the best educated guesses of the decision-maker and his or her team - in order to allow the decision-making process to move forward. These assumptions necessarily contribute to the uncertainty surrounding the decision and therefore must be treated carefully.

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