ABSTRACT
Formalized decision trees are thus better suited to the simpler situations in which a reasonable comparison can be made of the end conditions. After the evaluation has been done, one thing should be noted: managers that follow a logical and reasoned decision-making process can be said to be making good decisions and that is all that can be expected of them. The ability to combine an educated guess with some objective data is a concept that has obvious attractions when it comes to assessing how to deal with future situations and is clearly relevant to the type of decisions that sometimes face project managers. The management of all projects consists of making decisions on a daily basis. Making good decisions in the face of uncertainty is the key to effective risk management and every project manager should be aware of how to do it.
