How much time a leader or a decision-maker commits to the decision process can dramatically influence the outcome.
Spending too little or too much time typically leads to poor decisions. So, understanding the time it takes to reach a quality decision is of the utmost importance.
Of course, the right amount of time will vary by person, project, or issue. Decision time depends on the stakes, uncertainty, and complexity of the choice.
But every decision has an optimal trigger point.
Leaders naturally weigh the consequences of a decision most heavily when determining how much time to commit to making it.
Simple, low-stakes decisions (such as what to eat, what to watch) are best allotted a few seconds to a few minutes. Spending any longer doesn’t improve the outcome and usually distracts from other, more important matters.
Moderate-consequence decisions (such as making a purchase, planning a trip, or choosing an approach) typically take between a few hours and a few days. Just enough time to compare options and think them through.
High-stakes decisions (such as career moves, major investments, or formulating strategies to tackle strategic problems) usually take a few days to a few weeks. Reflection, outside input, and examining assumptions take more time.
Slowing down the process is wise when the decision is irreversible, poorly understood, or depends on information that is still changing.
A brief pause can also help decision-making when emotion is driving the choice. But a common misperception is that allotting more time will create better decisions.
Research suggests that after a point, extra time leads to overthinking and analysis paralysis, but not a superior decision. Setting a time limit proportional to the consequences or stakes of the decision is the best touchstone.
Good leaders make the call when the deadline hits.
If there is a general principle or rule supported by the research, it is this: Smart leaders take the necessary time they need to gather evidence — and not one minute more.
Then they decide without further delay. Quality more often comes from better information gathering and analysis, not just more calendar time.
As a rule, leaders allot too much time to make decisions. Faster isn’t always better, but deciding too slowly adds complexity, sows doubt, and encourages second-guessing.
When it comes to quality decision-making, the best leaders slow down long enough to think clearly.
