Question

What is a rational engineering decision compared to an irrational decision?

Answer 1

Decision making is one of the important aspect considering as a problem solving method giving way to make profits by getting solutions to a problem in any processes. But this decision making process can be termed as rational or irrational at times.

Rational decision making are supposed to be analytic, while the irrational decision making is meant to be deviating from what is necessary and may go against rules. Rational decision making is straightforward when compared with irrational decision making. Irrational decision making can be taken in a hurry and may cause loss or damage to the business. It is a deviation form the rational or correct way.Rational choices leads to the best situation taking into account of all the resources and considerations, costs and benefits. And the contradictory choices made can lead to irrational decisions.

In engineering economics the rational decision making refers to the capacity to visualise, analyze and organize the engineering lifecycle data coming from different ways.Through this the team will get a better view and larger view of the whole situation and they can use the resources accordingly and in turn they can produce a better product with least amount of loss. While, an irrational decision will force to make losses and the engineering team will not have a perfect view of the situation and they might end up using the resources in a wrong way and the desired growth cannot be achieved. With rational way of decision making they can make more effective and timely engineering decisions and this will ultimately reduce the cost of production and increase the profit maximisation. Whereas, a irrational decision making in engineering will cause of loss ot time., money, energy and this will result in lack of motivation and ultimately loss of profit too.