Managing critical decisions - A key to successful project execution

 

Prof. Björn Fagerström

 

It has been shown that delays, rework and missed targets in projects are frequently linked to lack of decision-making awareness and capabilities. The aim is to present a defined decision-making process allowing project managers to enhance the decision quality, resulting in a higher likelihood to deliver the project in line with plans and reaching goals/objectives. Furthermore, this increases the flexibility, as decisions are planned upfront and options are evaluated in a structured manner.

This work focuses on complex decisions which don’t have easily calculated and simple solutions. Engineering organizations often use a rational approach for decisions, based on well-defined objectives, closed decision-making processes, optimization towards a firm target with all required information, etc. In practice, we face a bounded rational reality, with achievable (might change) objectives and aim for “good enough” solutions, based on limited information and inconsistency, in which decisions are based on judgement with an open decision-making process.

Speaker Biography

Björn Fagerström is managing director at Inocean AB. 

Björn has broad experience from project-based businesses, including large scale engineering and construction projects, such as Offshore wind farms, Offshore structures within oil and gas, pulp and paper plants, etc. In addition, Björn is an adjunct professor at Mälardalen University in Sweden, with key focus on engineering management, and decision making.

Talent Triangle

Technical Project Management & Leadership