Decision Making Vocabulary (STPM SEM Module)

Five vocabulary flashcards covering key decision-making concepts from the notes.

Non-routine decision

A decision about new or unusual problems that arise, not part of regular operations, typically involving high risk and requiring a novel solution.

Certainty

A situation where the decision maker has clear knowledge of the problem’s causes and available alternatives, leading to predictable outcomes.

Risk

A level of uncertainty in which probabilities of outcomes can be estimated, allowing some assessment of potential losses and likelihoods.

Uncertainty

A condition where outcomes and their probabilities are not known or are poorly defined, making precise prediction difficult.

Ambiguity

A situation in which information is unclear or conflicting, leading to multiple plausible interpretations and choices.