Project Decision Analysis

David T. Hulett, Ph.D.¹

Decision analysis helps make decisions in an uncertain world.

Uncertain events in the future and future decisions the business has to make are modeled in a decision tree or influence diagram. Decisions about accelerating the project, type of product, uncertain markets, alternative technologies and gathering more data (e.g. market, seismic, technical) can be analyzed using decision analysis.

Some decision analysis software that deserves attention includes Precision Tree, a Microsoft Excel add-in from Palisade Corporation and DPL Decision Analysis Software from Syncopation Software.

¹© 1999 by David Hulett. The author is Principal, Hulett & Associates, Project Management Consultants of Los Angeles, CA. Hulett & Associates can be reached at (310) 476-7699 or info@projectrisk.com.

For more information:

David T. Hulett, Ph.D.

e-mail: info@projectrisk.com

URL: www.projectrisk.com

Phone: (310) 476-7699

Cell: (310) 283-3527

FAX: (310) 472-8846

12233 Shetland Lane, Los Angeles, CA 90049

Books by David Hulett

Integrated Cost-Schedule Risk Analysis, by David Hulett

"It is to be hoped that Hulett's approach will be adopted... to produce more realistic... projections of project outcomes - to set more achievable targets and to point towards more effective risk mitigation actions."
-- Philip Rawlings, Director, Euro Log Ltd

Practical Schedule Risk Analysis, by David Hulett

"This is an extremely important book, which presents a depth of understanding of estimating and scheduling rarely seen in industry." -- John Greenwood