Uses
- To help identify a strategy most likely to reach a goal.
- Helps form a balanced picture of the risks and rewards associated with each possible course of action.
- Provides a framework to quantify the values of outcomes and the probabilities of achieving them.
- Clearly lays out the problem so that all options can be challenged.
Description
Decision Trees are excellent tools for helping choose between several courses of action using a tree like graph. They provide a highly effective structure within which you can lay out options and investigate the possible outcomes of choosing those options.
TIPS
- Identify a clear purpose.
- Identify the variables.
[1] Mind Tools. “Decision Trees.” Decision Tree Analysis. N.p., n.d. Web. 19 July 2012. <http://www.mindtools.com/dectree.html>.