Decision Making and Team Theory is a study that advises how to make the best choices with the distribution of skills among team members. Identifying the decision is the first step in the decision-making process that precisely defines the nature of the choice that must be made. Relevant information is then collected from the best sources in both internal and external work. Possible paths of alternatives or actions should be identified using additional information and imagination. The evidence should then be weighed to achieve a particular action or select a combination of options that has a higher potential to achieve the organization's goal. Action should be taken followed by review of the decision and its consequences. As team members it is crucial to fill the right roles, receive input separately and then share perspectives, as well as improve communication on why, what and how they added specific information. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Teams and decision making are trained ranging from simple to complex situations for identifying the best course of action and solving problems. For example, several members join with new practical information, a shortcut to the software, previous experience on a particular task, or in-depth knowledge. Working in a group has a better chance of solving a problem than working individually. Sharing knowledge within the group also benefits each member who adds what they already know and what they get will likely remain better, immediate and free. Decision making is not fully optimized in the Venezuelan oil industry in terms of costs, effort and time (Vazquez, 2014). However, standard methodologies, efficient tools and an integrated approach can be used in decision making to help the industry and people achieve their goals. Making informed and right decisions are some of the crucial choices to improve the operations and performance of the organization. The industry can use decision-making tools and systems to improve reliability, agility and responsiveness. In the oil and gas industry, a decision framework for project evaluation and conceptual design is presented. An evaluation of the proposed framework and the results of the conceptual process is conducted. An individual interested in working in the oil industry should know how to implement projects and structures that give realistic results to aid in strategic decision making. When formulating such models, all uncertainties should be included in order to improve the design results. Knowledge management theories focus on various organizational factors such as technology and ecology. For example, ecological theory focuses on internal and external factors that include relationships and interactions between individuals in an organization (Hjrland, 2013). Technology has a role to play in managing knowledge to implement business strategies. Through technological progress, organizations have replaced conventional, hierarchical administration with operational and managerial decision-making activities. Knowledge management challenges involve managing community participation, commitment and quality of time, as well as the ethical sharing of valuable information and knowledge. For example, when members share ideas, they build their relationships and keep themselves engaged and updated.