Decision analysis cycle


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]:

The Decision Analysis Cycle

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:

  • formulation
  • evaluation
  • appraisal.

See also

References

  1. ^ 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 link

Mohammed A. Mian text retrieved 17/09/2011



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