In a perfect world, a manager would have all of the knowledge, manager  skills, and manager training that he or she needed to have when it came  time for them to make a decision. 

With this information they could be  comfortable that the decision that they were making was the right  decision. However, as I’m pretty sure that you are well aware of, we don’t live in a perfect world. 

What this means is that we have to make decisions with limited information and that means that we need to learn how to deal with risk.