Decision Tree: Risk & Opportunities: Difference between revisions
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== Abstract == | == Abstract == | ||
The decision tree is a tool to ensure the best outcome of a problem. It is highly used within project management to ensure the lowest risk of unforeseen expenses. | The decision tree is a tool to ensure the best outcome of a problem. It is highly used within project management to ensure the lowest risk of unforeseen expenses. | ||
It is based on a tree-like model where each branch is a path of decisions and possible events. Each step include the cost and possibility of that event to occur. | |||
Revision as of 12:59, 17 September 2017
Abstract
The decision tree is a tool to ensure the best outcome of a problem. It is highly used within project management to ensure the lowest risk of unforeseen expenses. It is based on a tree-like model where each branch is a path of decisions and possible events. Each step include the cost and possibility of that event to occur.