All 4 entries tagged Rdm

View all 455 entries tagged Rdm on Warwick Blogs | View entries tagged Rdm at Technorati | There are no images tagged Rdm on this blog

March 11, 2013

Decision Verification

Robust decision making is not is not dependent on intuition or judgement. However, it is dependent on decision analysis tool. I learned that decision making either should be validated using organisation data and performance on a certain aspect or using another analysis tool for verification if both outcomes are in agreement. If not it would be useful to use the support of a third tool for determination. Nevertheless, chosen tools should be sufficient to cover most of decision aspects to avoid choosing a tool to confirm previous outcomes.

This is important to allow decision maker to assess the robustness and validity of a decision. such an action can lead to reducing decision errors and increasing the decision maker confidence.

In my future career i have to ensure that consulting more than a single analysis tool is useful. This will allow me to avoid falling in the trap of my bias by the first tool and pay my attention to further complexity of decision dimensions. I believe that it is also a useful tool to determine a career line for a change after completing my course.


March 07, 2013

AHP tool

AHP tool works on comparing the decision attributes and ranking them accordingly. The benefit of AHP is in giving an insight of the decision hierarchy to efficiently evaluate the criteria and sub criteria. Moreover, it helps in aiding qualitative decisions where specific values are not available and uncertainty is high. Nevertheless, this provides a big window for personal judgement and decision bias. This, however, can be overcome by prioritising the firm needs and experience with utilising the tool.

it is important to understand the advantages and disadvantages of decision analysis tools for effective use. Moreover, it is also important to be aware of where biases fit in decision tools to be able to minimise it. being aware of judgement is helpful to know how the reliability of decision is affected.

The AHP is very useful in making decisions. in my line of work, i can expect my self to use AHP for prioritizing maintenance task according to importance especially when quantitative data is not available. it also can be used making decisions on how distribute the workforce according to the workload requirements.


Tool Selection

decision tools are numerous. When planning to make a reliable decision it is always useful to use a tool. However, selecting the right tool can be more complicated than using the tool it self. The literature describes that tool selection is dictated by decision requirement such as, amount of data available, time and resources, complexity and people involved. the most logical approach would be to assess all the tools for compatibility, however, this might require extensive time resources and experience. a more convenient approach is to understand from literature what tools are used for the decision requirement and assess the benefit of a particular tool to reach to convenient decision.

The importance of this knowledge is in simplifying the tool selection process. However, this improves by experience in decision analysis and familiarity with tools benefits.

in our location decision we assessed the decision requirement and compared it to decision tree advantages which showed a very positive result as a practise of the proposed selection approach. At work, when required to make a decision i can assess the available data, resources and the associated uncertainty to aid me in tools selection using common tools advantages.


March 05, 2013

Decision tree use

I learned that decision tree supports decision making in two aspects; first it provides a graphical representation of the situation with all possible routes and provides the highest probability value as the optimal decision.

This tool is a very important decision tool in in its benefits. it also supports decision making associated with risk and uncertainty. The consideration of probability and value gives an insight to decision making.

The use of decision tree can be used for investment decisions. If two possible engineering modifications are recommended they can be compared for cost, return on investment and reliability using decision tree.


October 2020

Mo Tu We Th Fr Sa Su
Sep |  Today  |
         1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31   

Search this blog

Tags

Galleries

Most recent comments

  • Good point, you dont have to consider it while using the decision tree as the available data is limi… by Ahmed Alali on this entry
  • Good point Bu Salim. However, i failed to mention that a decision objective is linked to the busines… by Ahmed Alali on this entry
  • I do agree with you Ahmed that certain modification enhance GA performance, however, even if someone… by Waddah Alharthi on this entry
  • as u said, the time scaling and sentivity need to be taken into account… i agree but do u think in… by Tzu-i Yang on this entry
  • i agree with u … choosing tools is not easy… we might fall into trap info….it was whyi decisio… by Tzu-i Yang on this entry

Blog archive

Loading…
RSS2.0 Atom
Not signed in
Sign in

Powered by BlogBuilder
© MMXX