Every now and then a decision has to be made. A choice has to be made among the numerous alternatives available. This choice can be made with the help of the cognitive abilities of a person. But only the use of cognitive abilities will lead to a biased decision which is based on past experiences and cultural preferences. Therefore, there are specific strategies and methods devised that can be used in order to improve the quality of the decisions. The quality of the decision matters so much because of the future depends on the decision made in the present. Efficient decisions lead to efficient use of resources and help in achieving objectives and facing challenges.