CHAPTER 3
Understanding the Decision Analysis Process
The Americans will always do the right thing . . . after they’ve exhausted all alternatives.
—WINSTON CHURCHILL
We want to make rational choices, we would like a transparent decision-making process, and we want a mechanism for correcting mistakes. These goals can be accomplished through the decision analysis process: decision-framing, modeling, quantitative analysis and implementation, and finally monitoring and reviewing of decisions. Decision analysis is simple and fully adaptable to different types of project decisions.
Example of Decision Analysis Process
An example of applying decision analysis to a complex project can be seen at the National Aeronautics and Space Administration (NASA). ...
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