Episode description

Margaret Heffernan explores the fine art of decision making in times of uncertainty. We make decisions all the time which affect our personal lives, but what about the decisions which affect the lives of many others? How do you decide, when the well being of a nation or the success of a company are at stake, but the path is unclear because the risks cannot be quantified? A desire for more data, the temptation to procrastinate, a reluctance to admit mistakes and the outsourcing of decisions to machines can all lead to bad decision making, so what processes and practices, leadership qualities and attitudes of mind can serve as the best guides? Senior politicians, public servants, business people and academics share their insights based on past failures as well as successes, and suggest ways of better decision making in an increasingly uncertain world.

Contributors:

Professor Gerd Gigerenzer, Director emeritus, Max Planck Institute for Human Development Martin Gilbert, former CEO, Aberdeen Asset Management Sir Oliver Letwin, former Conservative MP and Cabinet Minister Dame Louise Makin, former CEO, BTG plc Baroness Eliza Manningham- Buller, former Director General MI5, Chair of The Wellcome Trust Professor Cathy O'Neill, founder O'Neill Risk Consulting and Algorithmic Auditing Jonathan Powell, former Downing Street Chief of Staff to Tony Blair

Producer: Sheila Cook Editor Jasper Corbett