Session T15: Decision Analysis to Improve, Make, or Break Decisions

1. Introduction

Please use the following interaction to learn some of the basic concepts and terms associated with decision analysis:

Here is a timeline tracing the development of Decision Analysis or DA:

Bottom line:
Decisions are rarely made under conditions of certainty. Quality practitioners routinely make decisions with imperfect knowledge and where a degree of risk exists. The value of DA is that it can help us manage risk while offering a data-driven approach to decision making!