Explore BrainMass
Share

Techniques for Decision Analysis

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Where can we use Decision Analysis? Please express your views on where you could apply different techniques for Decision Analysis.

© BrainMass Inc. brainmass.com December 20, 2018, 3:36 am ad1c9bdddf
https://brainmass.com/statistics/hypothesis-testing/techniques-decision-analysis-260626

Solution Preview

Completed and attached is the solution.

A major part of decision making skills is in significant and practicing good decision making technique. One of the mainly practical decision making techniques can be summarize in those simple decision making steps:
1. Categorize the purpose of your decision. What is accurately the problem to be solved? Why it should be solve?
2. Collect information. What factors does the problem involve?
3. Identify the principles to judge the alternatives. What values and judgment criteria should the solution meet?
4. Brainstorm and list unusual possible choices. Generate ideas for possible solutions. See more on extend your options for your decisions on my brainstorm tips page.
5. Assess each choice in terms of its cost. Use your standards and judgment criteria to determine the cons and pros of each option.
6. Make a decision the best alternative. This is much easier after you go through the above training steps.
7. Put the choice into ...

Solution Summary

This solution provides an explanation about techniques for decision analysis.

$2.19