Decision analysis cycle

The decision analysis (DA) cycle is the top-level procedure for carrying out a decision analysis. The traditional cycle consists of four phases:

basis development
determinisitic sensitivity analysis
probabilistic analysis
basis appraisal.

The diagram below depicts the Decision Analysis Cycle:^[1]

A revised form of the cycle consists of an attention-focusing method followed by a decision method, each of which is composed of three stages:

See also

Decision model

References

↑ Howard, Ronald A., ‘‘The Evolution of Decision Analysis,’’ in The Principles and Applications of Decision Analysis, ed. R. A. Howard and J. E. Matheson, SRI and Strategic Decisions Group (1983). Web Link

External links

Mohammed A. Mian text retrieved 17/09/2011

This article is issued from Wikipedia - version of the 9/27/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.