Decision-making as applied to technology assessment: A large case study within the petroleum industry

Managers influence the success of corporate decisions, and thus ultimately the competitiveness of their firms, through processes they choose for key decisions. This study identifies factors and attributes used by practicing managers in their decision-making process to assess technology. The study contrasts two juxtaposed decision-making models where one is driven by process (traditional Decision Analysis) and the other by pace (need for timely decision). Interviews of managers in a major petroleum company operating in a stable operating environment provided data for the study.; The research thrust focuses the study on components of decision-making models actually used in practice when assessing technology. Examination of "Technology Factors" and "Personal Attributes" affecting the decision model used by thirty-five managers is key to the study.; Findings support the hypothesis that managers today do not rely on a single decision-making model, but rather modify the model-in-use-depending on circumstances and managers past experience. Using a qualitative study approach, in-depth interviews revealed that managers combine model elements from both process and pace driven models.; This study will aid the practicing manager in identifying factors and attributes that will optimize their decision-making process and thereby strengthen the firm's vitality and effectiveness in a time-pressured economy.