Decision making is complex and overwhelming. gettyIt’s not your imagination, decision making is getting harder today. If you’re the decision maker, choices probably feel more risky or overwhelming. And if you’re waiting for decisions from others, you’re probably losing patience with the time it takes or the long pauses before others come to closure.Unfortunately, decisions aren’t terribly effective today and according to Gartner 72% of executives say that bad decisions are as prevalent as good ones. It’s not news that poor decisions drive negative business outcomes, but on the other side of the coin, good decisions can make a significant impact. According to a review of 800 companies globally, Bain & Company found those in the top 20% of quality decision making resulted in six percentage points better shareholder return than lower quality decision making. This was true across countries, industries and company sizes.Make Better DecisionsThe reasons for poor decisions are varied, but it’s possible to address them and make better decisions every day.Reduce the Number of PeopleOne of the primary issues impeding faster decision making is that there are so many people involved. With complexity, we legitimately need more brains in the process for the best outcome. But often, too many people have the ability to say no. In addition, consensus-oriented organizational cultures sometimes insist on having too many stakeholders involved, participating and weighing in. This can stand in the way of not only speed, but effectiveness.Instead of involving too many people in too many decisions too much of the time, increase decision velocity by clarifying who holds the decision making power to say yes and be clear about how the decision will be made. Some decisions need greater agreement, but in other cases it’s wise to obtain enough perspectives and then limit the final decision for just one or two people who will weigh the options and move forward. Either way, the process is more efficient when people understand their role and have clarity about how decisions will be made. Reduce the RiskAnother primary reason that decisions go on permanent pause or take seemingly forever is because they are especially risky. With today’s uncertainty and complexity, making the wrong decision can cost more and have big negative consequences. In addition, because of our communication and social media systems, decisions are under greater scrutiny and when people don’t agree with a decision there is more risk it will be shared broadly or face backlash.Increase your decision velocity by reassuring yourself there are no perfect decisions. Move forward with an incremental decision so you have the opportunity to get the small win, gather information and learn for the next step. Run a pilot, experiment on a smaller scale and obtain feedback to ensure continued success.Also actively assess risks and their likelihood. Using a two-by-two matrix, you can plot what might go wrong against the likelihood of those situations occurring and make informed decisions based on your analysis. Without such careful review, risks can become conflated and feel bigger than they are. In addition, determine who holds the risk and ensure that person(s) have an adequate voice in the decision you make.Also ensure that you’re effectively managing the changes that will result from the decision and increasing change readiness. Sometimes the risk in a decision is based on worries that it will be questioned or overturned. Manage the change by setting a vision, giving people knowledge of how to shift, ensuring a healthy sense of dissatisfaction with the present and addressing perceived costs. These considerations will help the decision take hold and therefore reduce the associated risks.And ensure you have systems for measuring, monitoring and adjusting. Decisions that don’t allow for improvement and evolution are the most risky. But when you create options to continuously adapt, you’ll reduce risk in turn. Reduce the Information LoadWe can also make the mistake of continually seeking more information to help us make a good decision. When we’re unsure about which direction to go, asking more questions or looking for greater input can be a stalling tactic. But more data or input isn’t always better and we are often suffering from information overload today. It can be overwhelming and actually make decisions more convoluted, rather than easier.Increase decision velocity by understanding what’s motivating your desire for more information. If you’re just asking more questions as a tactic to delay, manage yourself and decide that you have enough to move forward. You can check yourself with trusted colleagues or experts. Also learn to get comfortable with just-enough information. Use the goldilocks rule in which you obtain as much as necessary, but as little as possible, so you can move forward effectively.Reduce the OverwhelmEssentially, decision making is hard because of overwhelm. Too many inputs, in the form of opinions, information and pressure cause not only too much cognitive load, but also emotional load in which we worry about outcomes. Interesting research in the areas of mathematics and logic called optimal stopping, finds that there is an optimal point of ending the exploration process. According to studies published in arXiv and the Journal of Applied Psychology, our best choices will arise from investing time in exploring 37% of our options and then committing to the best fit. It may be tough to apply a specific 37% solution to complex problems, but the overall concept is useful for decision velocity: Explore options, research alternatives and consider possibilities. Then decide. Too much exploration isn’t optimal, and it’s necessary to close, decide and execute. Decide to DecideWith action, we can learn. The headlights on our cars aren’t bright enough to shine all the way to our final destination, but they can get us fully there, 200 feet at a time. Each choice moves us ahead until we know more for the next decision.Decisions are legitimately harder today, and it’s reasonable that we struggle with stifling or stagnating. But it’s possible to move forward wisely and intelligently with pragmatic strategies.