Improve Decision Making : What Is The Cost Of Indecision?
The planning and implementation of transport infrastructure projects requires the engineers and clients (authorities and developers) to make decisions. There are three outcomes of decisions; the correct decision, the wrong decision and no decision. All three have consequences. The correct decision is one thing. A wrong decision usually comes to light down the line. It may cost a bit to rectify, or the result is not optimal, but it will still be beneficial. No decision has consequences, the status quo and need for the project remains, any economic benefit is not realised, job opportunities do not realise, costs escalate, investors (developers) go elsewhere. This panel discussion explores what the cost of indecision are and why indecision persists. Once we start to debate and understand the issues we can ask the right questions, which can focus on the right solutions. (or will it?)