The decision analysis (DA) cycle is the top-level procedure for carrying out a decision analysis. The traditional cycle consists of four phases:
- basis development
- determinisitic sensitivity analysis
- probabilistic analysis
- basis appraisal.
The diagram below depicts the Decision Analysis Cycle:
A revised form of the cycle consists of an attention-focusing method followed by a decision method, each of which is composed of three stages:
- formulation
- evaluation
- appraisal.
Famous quotes containing the words decision, analysis and/or cycle:
“Moral choices do not depend on personal preference and private decision but on right reason and, I would add, divine order.”
—Basil Hume (b. 1923)
“Ask anyone committed to Marxist analysis how many angels on the head of a pin, and you will be asked in return to never mind the angels, tell me who controls the production of pins.”
—Joan Didion (b. 1934)
“The cycle of the machine is now coming to an end. Man has learned much in the hard discipline and the shrewd, unflinching grasp of practical possibilities that the machine has provided in the last three centuries: but we can no more continue to live in the world of the machine than we could live successfully on the barren surface of the moon.”
—Lewis Mumford (1895–1990)