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:
“You can hesitate before deciding, but not once the decision is made.”
—José Bergamín (1895–1983)
“Whatever else American thinkers do, they psychologize, often brilliantly. The trouble is that psychology only takes us so far. The new interest in families has its merits, but it will have done us all a disservice if it turns us away from public issues to private matters. A vision of things that has no room for the inner life is bankrupt, but a psychology without social analysis or politics is both powerless and very lonely.”
—Joseph Featherstone (20th century)
“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)