• Source: Decision analysis cycle

The decision analysis (DA) cycle is the top-level procedure for carrying out a decision analysis. Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner.
The traditional decision analysis cycle consists of four phases:

basis development
deterministic sensitivity analysis
probabilistic analysis
basis appraisal.
The diagram below depicts 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


Decision model
Decision theory
Enterprise decision management




References






External links


Mohammed A. Mian text retrieved 17/09/2011

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