Toolbox for uncertainty; Introduction of adaptive heuristics as strategies for project decision making

Verena Stingl, Joana Geraldi

    Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

    619 Downloads (Pure)

    Abstract

    This article presents adaptive heuristics as an alternative approach to navigate uncertainty in project decision-making. Adaptive heuristic are a class of simple decision strategies that have received only scant attention in project studies. Yet, they can strive in contexts of high uncertainty and limited information, which are the typical project decision context. This article develops a conceptual model that supports a systematic connection between adaptive heuristics and project decisions. Individual adaptive heuristics succeed only in specific decision environments, in which they are ‘ecologically rational’. The model builds on
    the individual definitions of ecological rationality and organizes them according to two types of uncertainty (‘knowable’ and ‘unknowable’). Decision problems and heuristics are furthermore grouped by decision task (choice and judgement). The article discusses several resulting propositions for future research and analyses the scant project literature on heuristics with regard to its fit to the model and the propositions. This conceptual approach supports future prescriptive research that can foster the development of efficient and intuitively applicable decision support tools. It finally highlights current boundaries of research on adaptive heuristics regarding the missing reflection of different types of uncertainty.
    Original languageEnglish
    Title of host publicationConference proceedings of International Research Network on Organizing by Projects (IRNOP 2017)
    Number of pages28
    Publication date2017
    Publication statusPublished - 2017
    EventInternational Research Network on Organizing by Projects - Boston, United States
    Duration: 11 Jun 201714 Jun 2017
    http://irnopboston.org/

    Conference

    ConferenceInternational Research Network on Organizing by Projects
    Country/TerritoryUnited States
    CityBoston
    Period11/06/201714/06/2017
    Internet address

    Fingerprint

    Dive into the research topics of 'Toolbox for uncertainty; Introduction of adaptive heuristics as strategies for project decision making'. Together they form a unique fingerprint.

    Cite this