All entries for Monday 14 March 2011
March 14, 2011
When we were in the team work, we thought that it was difficult to make the robust decisions because the information is so limited. It is easy to imagine that the lack of information and knowledge definitely serves as a block in decision making. Firstly, the less information we obtain, the less analysis and calculation we can make, and thus the less effective decisions we may choose. Secondly, in real practice, when we feel that we have got enough information and knowledge, sometimes we don¡¯t want to start to make a decision. Also, most of the time, we try to search for more information and learn more knowledge in order to make ourselves confident. However, we usually waste a lot of time in this research and learning and no one can guarantee the more information and knowledge we gain, the better outcome we obtain. Perhaps we miss an excellent opportunities when we were in the research. Therefore, it is necessary that people should get used to make decision without enough information and knowledge as it is impossible for us to always get everything we want.
In the contrast, sometimes too much information can cause problems, too. Most of the time, the budget of a project is limited and we can¡¯t try to analysis all the information. Also, process based analysis is time consuming work. Time is money so that it is not allowed to spend so much time in decision making. In addition, our energy and ability is too limited to analyze all the data. Besides, since there are a large number of information, it is not easy to decide which are more important and more correct, and thus difficult to decide which data we should use.