Thinking versus doing: The value of thoughtful decision making in the built environment in the context of pressure towards action

Real estate decision making is often compressed due to factors that are perceived as forcing decision makers to prioritise speed, including market, economic and global conditions. Speed is predicated despite the fact that these decisions carry significant impact and that, in general, buildings and spaces are often more durable than the decision-making horizon anticipates. Human thinking and decision-making processes can, however, be subject to shortcomings in approach that, if not examined and evaluated, can become endemic and lead to false conclusions being repeated over time as received wisdom. Speed exacerbates these errors, as do shortcuts in thinking intended to expedite decision making. Through exploration of diverse cases, the authors seek to unpack some common modes of thinking and doing, identify pitfalls as they relate to real estate, examine how these elements lead to poorer outcomes as a consequence and suggest tests and alternative approaches for improvement.