Management analysis 4

Write a three-page analysis of the psychological aspects of decision-making that might have occurred in this scenario.
Identify the possible sources of cognitive bias in the situation, and define the problem-solving strategy or strategies
employed by the group. Share your conclusions about the group’s strategies, and consider the following questions:
Do you think they made the best decision about how to handle the budget?
What are the possible sources of cognitive bias in this situation?
In what ways do you think cognitive bias affected their decision?
Do you think they should have used a different strategy?
What strategy would you recommend?
What strategy do you think would have caused more harm than good in this situation?
What do you think would have been the outcome if they had used one of the two strategies you have indicated?

Scenario is attached