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Decision Tree Type Analysis

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Many real-world decision problems consist of a sequence of dependent decisions. Develop a scenario that has a series/sequence of activities applicable to a "Decision Tree" type analysis. Explain why the scenario you selected is applicable. Also identify and explain critical factors that should be consider. Are there any risks in your scenario?

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Solution Summary

Decision trees are often used as part of project management. This 280 word solution explains how it works and how to use it for real life examples. One source link is provided to allow further investigation and illustration of decision trees.

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The "Decision Tree" type of analysis essentially starts with making an ending goal and working through the steps it would take to get there. For example, perhaps you are choosing to purchase a home. That would be the end goal. The next steps might be to find a realtor and to get pre-approved for a specific amount so you would know your budget. From there the realtor might show you homes within your budget and you may need ...

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