Huff, Richard A.; Prybutok, Victor R.: Information Systems Project Management Decision Making – The Influence of Experience and Risk Propensity; in: Journal of Project Management, Vol. 39 (2008), No. 2, pp. 34-47.
Huff & Prybutok analyse the antecedents of decision making of project managers in IT projects. Their hypothesis includes that knowledge and risk behaviour have an impact on decision-making. In both cases that can be empirically proven. Although knowledge is mostly driven by project management experience, whereas work experience has no influence on making decisions. The risk behaviour can be explained by the risk propensity, which are the „perceived psychological/emotional costs of the decision“.
In short this means continuation decisions (which were the subject of this research) are influenced by the managers project management experience and by his/her risk propensity.