Okay I'm gonna take a shot and throw out my philosophy.
Anytime I make the correct decision, I'm making money. Everytime I make a bad decision I'm losing money.
ex. If I have top pair against a flush-draw, and I bet more 50% of the pot or more, I'm giving my opponent bad pot odds
to call, and horrible implied odds. If I'm in this situation, over about 65% of the time I'm going to dodge the flush card (after flop). If the flop misses and he calls with me giving him bad pot odds again, I'm winning 83% of the time. At any point the flush draw may beat me. However, I may lose that time, but the majority of the time I'm winning more than I'm losing.
One big mistake that I see alot of people make is this. You get dealt pocket aces, you raise 4xBB pre-flop, get a couple callers. You catch your set of aces on the flop, however a flush draw or straight draw comes out. You slowplay the set and bet low or check/call. You're still a favorite to win the hand about 65% of the time, however you're letting your opponent draw for the flush, which is a profit for him over time.
Letting your opponent draw like this is actually a decent short-term strategy. Because most of the time you're going to take down a bigger pot (unless of course the flush hits). But over time, it's costing you. So, this might be a decent play in a tournament.
So my decisions (in ring games) are based pretty tightly on long-term results. I ask myself, what does this particular play get me in the long run? It's based pretty solely on pot-odds and implied odds.
However, knowing what type of player you're up against, being able to put them on a hand, drastically improves this strategy both in the short-term, and the long term.
To sum it up, every decision I'm faced with I have to decide what play will make or save me money in the long run if i play it the same way 100 times.
My tournament strategy is a bit different, as you don't have the luxury of long-term results. I still play pretty tight. However, I will branch from this depending on the situation. IE, attacking right before the money as players tend to tighten up a lot then. Also at the final table, the less players there are, the weaker hands you can play. Any Ace at a short-handed table becomes very valuable.