Regulations and laws may interfere with better intuitive decisions in certain circumstances. The answer is, No, management uses science, but is never scientific. Good managers plan with expectations, monitor the actual results and conditions, and revise their plans accordingly. When appropriate scientific models are not available, intuition derived from experience serves as the basis for decisions and planning. Prudent actions are essential because detrimental effects may be delayed in appearing, and may be uncorrectable.
Management is a skill.