Decision Analysis Cycle

The decision analysis cycle is the top-level procedure for carrying out a decision analysis. The traditional cycle consists of four phases:

• basis development
• deterministic analysis
• probabilistic analysis
• basis appraisal.

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.

See also: decision basis.