Framing Decisions Decision-Making that Accounts for Irrationality, People and Constraints

J. DAVIDSON FRAME is academic dean and cofounder of the University of Management and Technology (UMT) in Arlington, Virginia, one of the first fully online degree-conferring universities in the United States. Prior to joining the UMT faculty, he served as chairman of the Department of Management Science at George Washington University. Frame is the author of four prior books with Jossey-Bass, including the business bestseller Managing Projects in Organizations, Third Edition. He is a fellow of the Project Management Institute (PMI), where he received PMI's Outstanding Contribution Award and was named PMI's Person of the Year.

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Preface

1 An Evolving Decision-Making Paradigm

The Traditional Paradigm

The Real World

Rethinking Decision-Making

The Cognitive Challenge

Adjusting to the New Paradigm

Conclusion: It Isn?t Easy Getting It Right

2 Decisions and Decision Making

Different Perspectives on Decision Making

Rational, Irrational, Nonrational Decisions

Dealing with Unknowns

3 The Social Context of Decision Making

The Social Context

The Social Space of Decision Making

Allison?s Multiple Perspectives on Decision Making

The Link Between Stakeholder and Decision-Maker

The Implementation Challenge

Accommodating External Forces

Conclusion

4 The Organizational Dimension

Organizational Structure

Organizational Process

People in Organizations

Organizational Culture

Conclusion

5 The Moral Dimension

Broad Categories of Moral Failings

Moral Hazard

Principal-Agent Dilemma

Morality, Ethics, and Legality: They Are Different

Last Word

6 People as Decision-Makers

Factors That Affect How Individuals Make Decisions

Personality and Decision Making

Personality: Nomothetic Factors

Conclusion

7 The Wisdom?and Foolishness?of Crowds

Individual Versus Group Decision-Participation Spectrum

Making Decisions in Groups

Degrees of Consensus

Defining Consensus

Reaching a Decision

The Wisdom and Foolishness of Crowds

Honeybee Decision-Making

8 The Biology of Decision Making

Brain Basics

The Lazy Brain

Visual Illusions: What You See Isn?t What You Get

Examples of Visual Illusions

Brain Deception Beyond Visual Illusions

The Maturing Brain

Conclusion

9 Toward an Empirically Rooted Understanding of Decision Making

In the Beginning: Toward an Empirical View

The Challenge of Empirical Research

Evidence of Unconscious Deliberation in Decision Making: Three Empirical Approaches

The Contribution of Empirical Research: Where Do We Stand?

Empirical Research on Decision Making in the Neurosciences

The Contribution of Neuropsychology Research: Where Do We Stand?

The Need for Research on Decisions of Consequence

10 Seven Lessons

Seven Lessons for Highly Effective Decision-Makers

Last Word

References

Acknowledgments

The Author

Index

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