A judgment is the process of trying to determine an unknown state based on known cues. Not acting is usually also an alternative. For example, whether the cancer will respond to radiation therapy, whether it has metastasized, whether it will recur, how soon the man would die of natural causes. Each pairing of a chosen alternative with a state of the world results in outcomes. For example, if radiation therapy is chosen, and the cancer responds to radiation therapy, the outcomes might include increased life expectancy for the patient, decreased money in the patient's wallet, side effects of the therapy, etc.
Outcomes can be immediate or delayed.
A utility is the psychological or subjective value of an outcome. For example, if one outcome of the radiation therapy is nausea, some people will find that outcome worse than other people. While having a good appetite might be very important to me, it might be less so to someone else. I want to be able to function the way I function now. I want to be as rich as possible.