April 3, 2008
Its a type of analytical diagram, which shows the interrelated decisions and the expected results of choosing one altenative over the other.This is an analytical modeling technique, which is a tool and technique of the Quantative Risk Analysis Process.
Expected Monetary Value (EMV), a statistical technique which calculates the average anticipated impact of a decision, is used in conjunction with decision tree analysis to quantify a risk and take decision based on oppurtunities or threats resulted on the analysis.
-Posted by Sundar
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General, Planning, Sundar | Tagged: decision tree, decision Tree analysis, EMV, quantative, Risk analysis, Sundar | 
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Posted by Sundar
April 3, 2008
It is one of the selection method defined in the project selection methods which is one of the tools and technique of the Develop Project Charter Process. Decision Models are used to analyse different criteria to help and make decision during project selection.
Decision models include benefit measurement methods and mathematical methods. These selection methods are known as decision models and calculation methods. Decision models examine different criteria used in making decisions regarding project selection, while calculation menthods provide a way to calculate the value of the project,which is then used in project selection decision making.
-Posted by Sundar
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General, Initiation, Sundar | Tagged: decision models, develop project charter, project selection method, Sundar | 
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