One key question is how much risk should be taken in making the decision? Generally, the amount of risk an individual is willing to take depends on:

• The seriousness of the consequences of taking the wrong decision.
• The benefits of making the right decision.
• Not only how bad the worst outcome might be, but also how likely that outcome is to happen.

It is also useful to consider what the risk of the worst possible outcome occurring might be, and to decide if the risk is acceptable.  The choice can be between going ‘all out for success’ or taking a safe decision.