On knowledge maturity and biased nature of staged decision making in a high consequence industry

On knowledge maturity and biased nature of staged decision making in a high consequence industry

ABSTRACT

This paper explores and problematizes decision-making in a high-consequence industry which is characterized by the stage-gate process. We showcase that decision-makers do not differentiate between the types of knowledge used for modelling decisions and calculation of risks. This makes them susceptible to incorporating cognitive distortions—biases—into the stage-gate process. We conclude by amending the risk for certain kinds of biases with a knowledge maturity framework in order to outline conditions for pragmatic decision making.

KEYWORDS

decision making, uncertainty, knowledge maturity, risk management, decision biases

CITATION

Svensson, M., Bertoni, A., Lanander, M., On knowledge maturity and biased nature of staged decision making in a high consequence industry, DS92: Proceedings of the DESIGN 2018 15th International Design Conference / [ed] Marjanović D., Štorga M., Škec S., Bojčetić N., Pavković N., The Design Society, 2018. pp. 465-476

DOI number: https://doi.org/10.21278/idc.2018.0480

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http://urn.kb.se/resolve?urn=urn:nbn:se:bth-16233

Categories: Publications, Research