Decision Model

The Decision Analysis approach is characterized by the use of decision models. In general, a decision model encodes knowledge and information that is relevant for solving the decision problem at hand. Decision models are usually developed by participants of the decision process using tools such as DEXi. Typical models used in Decision Analysis are:

• decision trees,

• influence diagrams,

• multi-attribute models.

Among these, DEXi employs qualitative multi-attribute models.

Once developed, the decision model is used to:

• evaluate options and

• perform various analyses, such as what-if or sensitivity analysis.

The obtained evaluation and analysis results provide the basis for decision maker’s assessment of options and possible choice of the best one.