Decision analysis is a systematic, quantitative, and visual approach to making complex decisions, often under conditions of uncertainty. It involves breaking down decisions into manageable parts, analyzing potential outcomes, and using models to evaluate the best possible course of action.

Decision Analysis

Decision analysis

A systematic approach is a structured method for solving problems or completing tasks by following a series of logical, organized steps. It enhances efficiency and effectiveness by ensuring that all relevant factors are considered and addressed in a coherent manner.

Systematic Approach

Quantitative approach

A visual approach is a procedure in aviation where pilots use visual references outside the cockpit to guide the aircraft to the runway, often employed in good weather conditions when the runway is clearly visible. This approach requires pilots to maintain constant visual contact with the runway while adhering to air traffic control instructions for a safe landing.

visual approach

complex decisions

conditions of uncertainty

breaking down decisions

manageable parts

analyzing potential outcomes

using models

evaluate the best possible course of action

Risk Assessment in Simulation Projects

Relationship Between Expected Value and Net Present Value

Identifying Potential Risks

Relevant Degrees

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