When the pressure is on, you need a proven system for making effective decisions quickly. Take these steps:
Size up the problem. Ask yourself "How important is this decision?" That allows you to gauge how much time and effort you should devote to deciding.
Do your homework. Round up all the facts before you start to choose a course of action.
Consider different perspectives. Many people throughout your team and organization may be affected by your decision. Weigh their opinions before you choose.
Test your conclusion. Approach a trusted colleague to ask: "I'm thinking about doing X. What's your reaction? Can you think of any repercussions I have overlooked?"
Realize that the worst decision is indecision. If you are waiting for input from others, give them a deadline and stick to it. Set a deadline for your final decision too, so you don't procrastinate.