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Decision Analysis
Techniques
Decision analysis approaches use the following activities:
1. Define Problem Statement: clearly describe the decision problem to be
addressed.
2. Define Alternatives: identify possible propositions or courses of action.
3. Evaluate Alternatives: determine a logical approach to analyze the
alternatives. An agreement of evaluation criteria can also be determined
at the beginning of this activity.
4. Choose Alternative to Implement: the stakeholders responsible for
making the decision choose which alternative will be implemented based
on the decision analysis results.
5. Implement Choice: implement the chosen alternative.
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There are a number of decision analysis tools available to assist the business
analyst and decision makers in making objective decisions. Some of the tools and
techniques are best for deciding between two alternatives, while others handle
multiple alternatives.
Some general decision analysis tools and techniques include:
• pro versus con considerations,
• force field analysis,
• decision tables,
• decision trees,
• comparison analysis,
• analytical hierarchy process (AHP),
• totally-partially-not (TPN),
• multi-criteria decision analysis (MCDA), and
• computer-based simulations and algorithms.
10.16.3 Elements
.1 Components of Decision Analysis
General components of decision analysis include:
• Decision to be Made or Problem Statement: a description of what the
decision question or problem is about.
• Decision Maker: person or people responsible for making the final
decision.
• Alternative: a possible proposition or course of action.
• Decision Criteria: evaluation criteria used to evaluate the alternatives.
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