Maximizing expected value (EV) in tournament decisions involves consistently making choices that, in the long run, will yield the highest average return. This requires a combination of factors. Players must accurately assess hand probabilities, understand pot odds and implied odds, and consider the impact of Independent Chip Model (ICM) calculations, especially as the tournament progresses. Recognizing opponent tendencies, adjusting to stack sizes and blind levels, and making disciplined decisions in high-pressure situations are also crucial.