• analyze the difficulties, challenges and risks that an uncertain and complex world gives to decision makers
• apply different decision-making models, including organisation, cognitive and behavioral theoretical models
• account for decision elements in connection with both design and implementation of projects
• formulate a problem that is relevant to project management
• apply and reflect on data collection methods
• apply and integrate theories from several subjects to support the analysis of empirical work
• explain and discuss the applied theories and compare them with alternative theories
• apply, explain and reflect on project management tools used in their own project

This course focuses on the decisions that must be made when designing and implementing projects. We will also explore the actual conditions under which these decisions are made. There is particular interest in the uncertain, complex and ambiguous conditions that make it difficult to make rational decisions. The students will be presented with a number of theories for how such decisions are taken, including how uncertainties are transformed into risks that can be subject to calculations. These theories will be applied to the analysis of concrete project practices.

The purpose is to give the student an understanding of decision making, not as a right but as a task, and sometimes even a burden, as well as giving the student an insight into what kind of task it is about what makes it a challenge to solve it, and which strategies can be used to solve it appropriately.

The form of teaching is dialogue lectures. Emphasis is placed on the student's preparation, in the form of both independent reading of the specified scientific literature and in the preparation of group presentations of concrete case-based analyses illustrating the use of theories. We will endeavour to focus each class on specific decision theories and at distinct stages of the project, as the conditions and decision makers will differ in e.g. the project design phase and the implementation phase.

The students are expected to develop an intermediary formative (not graded) essay on the analysis of a decision making case in groups (the same group used for the final graded report). The formative assessment will prepare you for the development of your 1st year project (which is the basis of the exam).
Length: 3-5 pages
Description of the assignment: You will conduct an analysis of a case based on one decision making theory from the curriculum of the course. The teacher will provide the cases, but students are welcomed to choose other cases, if they prefer. The cases will be based on highly publicised project or decision cases, like the Challenger disaster.
The formative assessment is not graded but will be peer reviewed. The comments will be discussed in class, and will serve as a form to prepare the students for the final report, which will combine theories from this course and other courses.

Students are also expected to conduct peer review of other group work. We have chosen this method because, according to research on teaching and learning, peer review process is useful not only to the groups receiving the feedback, but also to enhance the learning of the ones providing feedback. We would like you to benefit from this double learning effect.

Students are expected to conduct a peer review of other groups through peergrade.

The curriculum will be dominated by scientific articles that cover both theories of limited rationality, cognitive processes and irrational and intuitive choices.
Basic Books (we will focus on selected chapters only):

March (2009) Primer on Decision Making. Free Press.

Kahnenman (2013) Thinking fast and slow. Penguin.