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This article, written for the nondecision analyst, describes what decision analysis is, what it can and cannot do, why one should care to do this, and how one does it. To accomplish these purposes, it is necessary first to describe the decision environment. The article also presents an overview of decision analysis and provides additional sources for its(More)
Making wise trade-offs is one of the most important and difficult challenges in decision making. Needless to say, the more alternative you're considering and the more objectives you're pursuing, the more trade-offs you'll need to make. The sheer volume of trade-offs, however, is not what makes decision making so hard. It's the fact that each objective has(More)
The foundation for any decision is a clear statement of objectives. Attributes clarify the meaning of each objective and are required to measure the consequences of different alternatives. Unfortunately, insufficient thought typically is given to the choice of attributes. This paper addresses this problem by presenting theory and guidelines for identifying(More)
Decisions are made to achieve objectives. A qualitative list of the objectives for a decision is the foundation for a value model that unambiguously represents objectives in a quantitative manner. The objectives guide thinking and the value model provides a basis for analyzing alternatives to best meet the desired objectives. This article illustrates the(More)