In the context of drug delivery device development a number of critical decisions have to be made. Getting these decisions right or wrong can make or break a product and the financial impact of these decisions may be in the $100 millions. Examples are, whether to invest in a device at all? When to introduce a device? Whether to make or buy? Which device to select? Formal decision analytic techniques provide a framework for rational decision making which can be applied to large and small decisions alike. The presentation introduces decision theoretic concepts, tools and methods and applies to some typical device development and selection questions.