"If there's one thing I've learned in politics, it is: never make a decision until you have to." (Margaret Thatcher)
The earlier you make a decision, the more likely circumstances will change before the decision can be implemented. Also, you can miss an opportunity that becomes available on waiting. So, you can reduce the risk of misguided decisions by not taking them too early.
On the other hand, bear in mind that your peers and partners may give up waiting for your decision, and do their own thing, thus reducing your options.
Despite our best attempts to be satirical, some serious advice on decision making has crept in here and there. If you want more advice, the web is your friend.
Here is one specific paper on decision making.
http://www.buzzle.com/editorials/11-9-2005-80972.asp
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