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Home > QFINANCE Dictionary > Definition of decision analysis

Definition of

decision analysis

General Management

analysis of how people determine course of action a body of knowledge that attempts to describe, analyze, and model the process of decision making and the factors influencing it. Decision theory encompasses both formal mathematical and statistical approaches to solving decision problems, using quantitative techniques such as probability and game theory, and more informal behavioral approaches. It is used to inform and assist decision making in organizations.

Related definitions of "decision analysis"

Recommended Further Reading (Term count)
  • Moving Away from Traditional Budgeting
    by Lawrence Phillips
    Dr Lawrence Phillips, Visiting Professor of Decision Science at the London School of Economics and a director of Facilitations Ltd, is a leading expert on ways in which organizations can improve their decision-making. He has long been fascinated by the challenges associated with deciding how best to deploy limited resources across a range of possible projects and getting people to buy into the outcome—the quintessential budgeting and indeed...
  • Using Decision Analysis to Value R&D Projects
    by Bert De Reyck
    Project portfolio management, the equivalent of financial portfolio management but focused on R&D projects rather than financial assets, often relies on decision analysis methods to value projects rather than traditional financial valuation methods such as net present value (NPV). In finance, the idea of managing portfolios of assets goes back a long time, with the first formal methods being developed in the 1950s. Simply put, assembling a...
decision analysis - Related Articles

  • Using Decision Analysis to Value R&D Projects

    Best Practice

    Project portfolio management, the equivalent of financial portfolio management but focused on R&D projects rather than financial assets, often relies on decision analysis methods to value projects rather than traditional financial valuation methods such as net present value (NPV). In finance
    By Bert De Reyck

  • Understanding Decision-Tree Analysis

    Checklists

    This checklist describes decision-tree analysis and how to create and evaluate a decision tree.

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Definitions of ’decision analysis’ and meaning of ’decision analysis’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’decision analysis’ and other financial terms with our online QFINANCE Financial Dictionary.

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