Decision analysis cycle
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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.
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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:[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
References
External links
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