Business Brief: Five Top Decision Pitfalls

Don't make these five top decision-making statements that get in the way of success.

1) "We need to change, only not today." We often avoid taking action right now because it means some immediate discomfort.

2) "It's such a simple decision." Under pressure, our tendency to oversimplify answers to complex questions increases dramatically.

3) "Everything is GREAT!" Due to unrealistic optimism, who hasn't underestimated the real cost of time and effort to reach a particular goal?

4) "I can't wait that long." Without short-term reinforcement of long-term goals, our objectives remain mirages and greatly affect our decision-making ability.

5) "According to my Magic 8-Ball…" Not testing your assumptions can capsize the whole enterprise.

Michael Menard is the author of "A Fish in Your Ear: The New Discipline of Project Portfolio Management" and cofounder and president of The GenSight Group. To learn more, visit www.afishinyourear.com.