Book chapter
OA Policy
English

Useful heuristics

Published inWilliams, T.-M., Samset, K. & Sunnevåg, K. (Ed.), Making essential choices with scant information: front-end decision-making in major projects, p. 195-212
PublisherBasingstoke : Palgrave Macmillan
Publication date2009
Abstract

Decision-making is one of the core tasks in project management. Traditionally, optimization methods have been developed to support managers in finding the best solutions. Alternatively, decisions can be based on simple rules of thumb, or heuristics. Even though simple heuristics only require little in the way of time and information, they have been shown to outperform optimization methods in complex decision tasks across a wide range of situations. This chapter outlines relevant decision heuristics commonly used, demonstrates situations in which they outperform more complex decision algorithms and explains why and when simple heuristics provide powerful decision tools.

Keywords
  • Business
  • Management and finance
  • Knowledge management
  • Business and management
  • Leadership and strategy
Citation (ISO format)
SCHEIBEHENNE, Benjamin, VON HELVERSEN, Bettina. Useful heuristics. In: Making essential choices with scant information: front-end decision-making in major projects. Williams, T.-M., Samset, K. & Sunnevåg, K. (Ed.). Basingstoke : Palgrave Macmillan, 2009. p. 195–212. doi: 10.1057/9780230236837_10
Main files (1)
Book chapter (Accepted version)
accessLevelPublic
Identifiers
ISBN9780230205864
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255downloads

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