April 12, 2012

Robust Decisions and Risk Mitigation

I wonder if we are making robust decisions then why should one look for risk mitigation plan? Because for me making robust decision should include all risk and its consequences but regardless if one is thinking about risk mitigation then according to me he/she didn’t made a robust decision or they might not sure about their capability as well as capability of decision-making tool, which they have used. Another reason could be wrong selection of decision-making tool. I always think about this how import is to select correct tool for making decision and what all factors may affect to this decision. How much time one should spend on deciding which tool to use? This all questions are unanswered yet. But I also feel that all this might depend upon who is making decision under what condition and what is the situation where this decision is being made. 

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