ABSTRACT
Good risk management requires good decision-making. Both require focusing on how to best achieve the goals of a project under conditions of uncertainty. Decision-making is a complex process. However, it is possible to differentiate between two types of decisions that project managers can make: routine and non-routine. The best way to minimize bias or subjectivity in decision-making is to develop a criterion to make the appropriate decision. Being a human invention, the criterion will never be totally free of bias. Decision-making occurs on one of two levels: individual and group. Each level has pluses and minuses. Decision-making by groups has its advantages in comparison with decisions made at individual level. Groups tend to incorporate less bias in their decisions, unless they suffer from groupthink. Group decision-making is not totally positive as groups require a period of deliberation in order to come to a consensus and that lengthens the time taken to come to a decision.
