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| Author: | Hodgson, J. Drummond, H. |
| Title: | Learning from fiasco: what causes decision error and how to avoid it |
| Journal: | Journal of General Management
2009 : WINTER, VOL. 35:2 p. 81-92 |
| Index terms: | decision making risk management commitment success organizations |
| Language: | eng |
| Abstract: | All decisions involving uncertainty run the risk of failure. This article is about decision-making and risk-management and the main forces that influence them. It is discussed how, contrary to terminating faltering projects, organizations can end up investing more resources decision-making process - a phenomenon called escalation of commitment. It is considered how organizations can enhance decision-making. Controversially, it is suggested that risk-management techniques may not always danger but actually add to it. |
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