DECISION ANALYSIS: A SYSTEMATIC PROCESS AND ANALYTICAL TOOLS TO SUPPORT GEOSCIENCE KNOWLEDGE INTEGRATION
Decision analysis is a systematic method (known as the decision analysis process) and analytical tools (software) that help decision makers solve complex decision problems. Decision analysis includes methods for analyzing uncertainty as well as methods for making tradeoffs between multiple, and often competing objectives. Proper application of the decision analysis process results in the following: information gaps are uncovered and filled; a value is placed on uncertainty (the value of risk reduction is quantified); logical, organized, and rigorous decisions are made; a formal language for communicating among decision makers and stakeholders is provided. The paper includes discussions on the use of decision trees, influence diagrams, Monte Carlo simulation, and multi-attribute utility.