This is about making mission critical decisions without sufficient information.
Businesses fail due to catastrophic errors of judgement or consistently delivered errors of judgement…yes the result is exactly the same.
Gathering the information is tedious but vital. It needs to be handled in an appropriate time frame.
You need to gather the information, you need to verify it, you need to create action plans, process owners, and clear expectations to ensure that those decisions are actioned.
The art is to “fail quickly” (Thank you Steve Jobs).