What's your thoughts on Evidence-Based Management ?

In the management of Commercial Projects, Evidence-based Management has to do with the application of "lessons learned" from previous Projects for decision making in future projects.
The process helps organisations in making decisions less risky, and applying resources in the right projects. It reduces reinventing of the wheel. It is very empirical. Seeing is believing!

It is nothing but tool for fact based management. All facts leave evidences behind . Actually it shall be way of life in any project management as you are playing with somebody elses resources.
Regards
Mohan

Facts when time is passed ,leave evidences and many times to established that facts are facts evidences are required or handy. That is why we say fact based management and take decisions as a responsible and accountable program manager I used to document the evideances as records.
From this perspective I differentiate fact from evidence.
Trust it is ok
Regards
Mohan

If we look deep in our daily behaviours and how we use to handle issues at home and work we will find evidence based approach shown up one way or another.. its old ,experienced and effective .

I have to admit I was somewhat confused by the initial question and submitted comments. maybe I'm still confused. I was/am under the impression that that's how I made management decisions over the last 50 years - the same as most decision makers. I suppose some use Ouija Boards, or dreams, maybe tealeaves.

The problem I have encountered with both myself and others is
1) knowing when there is enough right evidence to make that decision, and
2) making sure one uses all the evidence rather than selecting the evidence that supports one's preferred (intuitive?) direction.

For 1), one has to use some level of risk analysis. At what point is the cost/time of more evidence greater than the reduced risk of having that evidence?

For 2), you need some sort of structure or set procedure clearly delineating the evidence gathering phase from the options analysis and decision phases. That procedure can include peer discussion and analysis, mock-ups, pilot projects, modelling.

This begs the question: Are organizations commandeering and commercializing standard historical management tools, capitalizing and applying acronyms; Lean, Agile, EBMgt, etc?. I wonder if someone has trademarked "Risk-Driven Project Delivery" or R-DPDel. If not, it's mine!! :-)