![]() ![]() The term is also used to refer to an application of decision analysis process to a decision problem.ĭecision analysis (DA) is concerned with finding effective and practical ways to implement decision theory. The elements of the decision structure include the possible courses of action (alternatives), the potential outcomes that could result from each course of action and their probabilities, and the eventual consequences (including costs and benefits) to be derived from the different outcomes. The six-hat method is described in the book Six Thinking Hats by Edward de Bono.Ī professional discipline and body of knowledge and process for organizing and translating a decision problem into a structure that can be analyzed and then applying a collection of related analytic techniques to that structure so as to derive a solution to the decision problem. As a project manager, you are advised to all put on your White Hat and Black Hat from time to time. The Black Hat challenges, criticizes, and evaluates all that has been proposed. The White encourages us to assess the evidence logically and with all of the available data. For example, two hats are the White Hat and the Black Hat. ![]() The method is designed to help people make better decisions by looking at the choice from different perspectives, thereby producing a more comprehensive understanding of considerations and issues. Information obtained in this way is often used to help organizations obtain improved understanding of customers and to aid decisions involving product design, marketing, and customer support.Ī thinking tool for group and individual decision making. Typically, data mining utilizes software to identify statistical patterns or relationships in data that may be commercially useful. The process of extracting from a (usually large) database information useful for decision making. ![]() A project database program is the heart of a project portfolio management software program and provides the capability to enter, update, maintain, and retrieve project data. A software program that is used to create, edit, and store information structured as fields, tables, files, and records. ![]()
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