The bounded rationality model should be used to make decisions when

the minimum criteria are clear.

Explanation:

Bounded rationality refers to a situation when a person is required to make a rational decision within a very limited restriction (usually the restriction revolved around not having enough time or spaces)

This type of model tend to be  used in a professional setting where the minimum criteria are clear. The decision makers will have to know the things that they are expected to achieve and the deadline when they are expected to achieve them.