Decision Tree Analysis
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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
This article is syndicated from Singapore Project Manager Forum
. The original article is available here. Read more in Project Management News, Singapore Project Manager Forum .
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