These are my notes from a recent lecture on decision making. A useful way of categorising decision-making techniques is by the variables that surround it:
- Input: relates to expected benefits and costs, especially the way in which that information is derived (quantitatively/qualitatively)
- Output: one objective or more? Is there a weighting system attached to them?
- Constraints: how much is known about the circumstances surrounding the decision?
- Resources: techniques available for making a decision