Decisions and Risks

     Somebody said, “ Planning is looking at the past and making present choices that will influence the future”. In this sense, planning means making decisions on which option and course of action to take.

     Decision makers often have to face a dilemma: which option to choose.

     Over time I have come to realize that the quality of a choice depends on how much the decision-maker knows about the options.

     In the course of my work in the planning profession, I have come across choices that project planners have had to make. We are familiar with many of them such as where to locate a project (should the proposed international port be located in Babatngon or Barugo, Leyte for example), what project to implement in a particular location (should an area made a public market, fish landing or a convention center), how to implement a project (to build a new road running along the coastline of Western Samar or just rehabilitate the existing Maharlika Highway), or when to start a project (when all the funds are ready or phase-by-phase as the funds become available).

     Of course, there are many types of choices. One thing is sure, though. Each choice has a future implication. And when we talk of development projects, the implications include a consideration of impacts: What happens to the people affected by the project? Will the project improve their quality of life? Will it result in employment? Will it mean higher income for the people affected by the project?

     The effects are virtually endless. Advisably, the decision maker has to choose a project based on its possible developmental impact. Ultimately, the best decision is that which gives the highest developmental impact over a period of time (and not only at the start of the project) and that such impact is sustained over time.

      With the complexity of decision-making it is little wonder why some find it extremely difficult to make decisions.

     This is called the “paralysis of indecision”. On the other hand, there are situations when not making a decision is the best thing to do. Whatever be the case, the result of the decision or indecision determines the correctness of the action. In this sense, decision-making is also risk-taking.

    Decisions and risks, the two are intimately related.