Towards Improving Decision-Making Framework to Aid Decision and Risk Analysis

In this paper, factors influencing decision-making are explored for improved modality design. Decision-making activity is conceived as a human activity, the underlying concepts and relevant literature are reviewed and the philosophical underpinnings are revisited. Literature on key attributes of decision-making such as judgement, knowledge, expertise and intuition are reviewed. The findings are that key attributes of decision-making which include knowledge, experience, intuition and judgement are positive in nature, while biases, judgement noise/variability and pressure have a negative impact on decision-making. The author proposes that a decision-making framework should be conceived as a human activity system which incorporates an interpretative framework of ideas and epistemological pluralism. It should possess the ability to deal with the complexities of the human aspect such as the unification of understanding on the variability of judgements, process the interplay between experience and authority and also make provision for the power-play involved in the decision-making process in an organization. This type of framework can be used to develop training prompts for artificial intelligence applications. It can also be used to develop a qualitative data repository for multi-criteria decision analysis and for analysis of enterprise risk.