We make hundreds of decisions daily, ranging from what to have for breakfast, to deciding in which room to hold a meeting, to whether or not to buy a new car. Many of those decisions are informal and relatively insignificant, and have few consequences, while some incur a degree of risk or uncertainty. Each of us takes
risks every day. For most of us, reasonable risks don’t prevent us from doing our daily tasks and routines. Working through a formal process to address those issues would typically be too time and resource consuming, and cause our lives to grind to a halt.