Articlegreen2017

Generative action and preference reversal in exploratory project management

Mario Le Glatin · Pascal Le Masson · Benoît Weil

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Decision-Making and Behavioral Economics Capital Investment and Risk Analysis Leadership, Behavior, and Decision-Making Studies

Abstract

Organisations trying to innovate, despite being naturally encouraged to use project management and associated rational theories of choice, will necessarily experiment in some way or another due to the high levels of uncertainty and the unknown to be discovered. Exploratory project management may face situations requiring a constant reconfiguration of beliefs and hypotheses as a reaction to external factors. In this paper, we propose to discuss the existence of a generative rationality breaking away from classical decision theory by deliberately reversing preferences and designing decisions.

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