DECISION (DECISION EVENT)

Risk Management and Decision Making Glossary

Risk Management and Decision Making — Decision (decision event)

Information on Decision (decision event)

A decision is made, or a decision event occurs, when the decision-maker (generally a single individual) surveys a known and fixed set of alternatives, weighs the likely consequences of choosing each, and makes a choice. [In an ideal situation], the decision maker evaluates the options in terms of a set of goals, purposes, or values that are stable over time, and that he or she knows quite clearly (Klein, Orasanu, Calderwook and Zsambok, 1993: 5).

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