When mangers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likehood of occurrence in the future?

When mangers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likehood of occurrence in the future?
You could have worded this question better. I'll give it a shot though. It is impossible to consider all the possible outcomes and probabilities. We can make a best guess based on the information that is available and based on the information we choose to consider and what information we choose to ignore. All the planning in the world does not bring into account unforeseen circumstance. For instance, I could make deal with someone whom I have totally vetted, checked him out, he's honest and a straight shooter, he can deliver what he says he can deliver, contracts are signed, we are ready to do business and he could get hit by a bus on the way home from our meeting.