You can view a session preview HERE.This presentation explores the concept of bounded rationality and its impact on project management decisions. Different bounds have been identified and discussed, which impact critical decisions during different phases of the project life cycle. A bound-free model of decision making has been proposed as part of this presentation, which is based on rational thought process, an analytical and intuitive approach, the project management triple constraints, and metacognition.
At the conclusion of this session, participants will be able to:
(1) explain different bounds which affect and impact critical decisions during different phases of project life cycle management;
(2) describe how an organization can strive to adopt and implement this model which is well supplemented by the metacognition abilities of individual project managers.
