ABSTRACT
This chapter summarises some of the current thinking and alerts project leaders to some of the issues about reliability of information. Decision-making theory based on the idea of rational causality has dominated management science and project management theory. Herbert Simon's theory of decision-making under bounded rationality offers the notion that in decision-making, or rationality, is limited or bound by the information available, the cognitive limitations of our minds and the finite amount of time we have to make decisions. Emotions play a vital part in decision-making. The idea that emotion and cognition are two separate systems that interact only occasionally is no longer accepted scientifically. In fact, it is now understood that interaction between emotion and cognition is essential for adaptive human functioning. Continuous information collecting can also be symptomatic of decision paralysis. Also, information overload increases the risk of being unable to comprehend the information or use it effectively in a decision.
