Relatively speaking, if a project has a positive NPV, that project should be undertaken.
The art of decision making may be perfected with time, as all decisions are relatively routine in nature.
An opportunity cost is the value of future expenditures.
Mistakes can be a great educator, particularly if a manager learns from them.
The OODAG expands upon the OODA Loop.
Potential options in the decision making process should be evaluated using a best case, realistic case, and worst case mentality.
Opportunity costs are not always about a financial amount.
Pro-forma financial statements are great when preparing budgets, but actual decisions made do not really affect the financial statements.
John Boyd created the OODA Loop, which was originally used for decision making purposes.
While there are a variety of management tools that are available to managers, choosing only one tool is best in the decision making process so as to allow for consistency.