Handbook of Decision Analysis

Handbook of Decision Analysis (Wiley Handbooks in Operations Research and Management Science)

A ONE-OF-A-KIND GUIDE TO THE BEST PRACTICES IN DECISION ANALYSIS

Decision analysis provides powerful tools for addressing complex decisions that involve uncertainty and multiple objectives, yet most training materials on the subject overlook the soft skills that are essential for success in the field. This unique resource fills this gap in the decision analysis literature and features both soft personal/interpersonal skills and the hard technical skills involving mathematics and modeling.

Readers will learn how to identify and overcome the numerous challenges of decision making, choose the appropriate decision process, lead and manage teams, and create value for their organization. Performing modeling analysis, assessing risk, and implementing decisions are also addressed throughout. Additional features include:

• Key insights gleaned from decision analysis applications and behavioral decision analysis research
• Integrated coverage of the techniques of single- and multiple-objective decision analysis
• Multiple qualitative and quantitative techniques presented for each key decision analysis task
• Three substantive real-world case studies illustrating diverse strategies for dealing with the challenges of decision making
• Extensive references for mathematical proofs and advanced topics

The Handbook of Decision Analysis is an essential reference for academics and practitioners in various fields including business, operations research, engineering, and science. The book also serves as a supplement for courses at the upper-undergraduate and graduate levels.

Table of Contents

1 Introduction to Decision Analysis 1
2 Decision-Making Challenges 22
3 Foundations of Decision Analysis 46
4 Decision Analysis Soft Skills 68
5 Use the Appropriate Decision Process 92
6 Frame the Decision Opportunity 110
7 Craft the Decision Objectives and Value Measures 127
8 Design Creative Alternatives 149
9 Perform Deterministic Analysis and Develop Insights 166
10 Quantify Uncertainty 227
11 Perform Probabilistic Analysis and Identify Insights 248
12 Portfolio Resource Allocation 291
13 Communicating with Decision Makers and Stakeholders 320
14 Enable Decision Implementation 340
15 Summary of Major Themes 351