Robust Decision Making (RDM)

Revision as of 18:09, 19 February 2022

Abstract: In some situations, decisions on projects or program management must been made under deep uncertainty ^[1]. In this case, the classic risk management tools are not well adapted. Robust Decision Making (RDM) is one of the solutions which can be used to correctly consider this high level of uncertainty. In contrary of the classic risk management tools, RDM helps decision makers to choose not the optimal solution, but the solution (of set of solutions) which is the less bad regarding the set of possible future^[1]). After having presented the general idea and main principles of RDM, this article aims to give a guideline so that the readers can implement it to their project. This includes a step-by-step methodology and a very short presentation of the tools needed. The relevance and limitations of RDM are also discussed at the end. In this article if nothing is specified, the notions used are defined according to the PMI standards Cite error: Closing </ref> missing for <ref> tag