branching OUT
One technique that project managers are using to practice risk management- to look into the future and understand what may happen and determine if what may happen actually matters - is decision tree analysis (DTA). This article explains the process for using DTA, a technique that can help project ma...
Saved in:
Published in | PM network Vol. 20; no. 5; p. 36 |
---|---|
Main Authors | , |
Format | Magazine Article |
Language | English |
Published |
Drexel Hill
Project Management Institute
01.05.2006
|
Subjects | |
Online Access | Get full text |
Cover
Loading…
Summary: | One technique that project managers are using to practice risk management- to look into the future and understand what may happen and determine if what may happen actually matters - is decision tree analysis (DTA). This article explains the process for using DTA, a technique that can help project managers make decisions where the implications are not entirely certain. In doing so, it defines the six steps for implementing DTA and applies DTA to a hypothetical case for selecting a subcontractor to implement - for the least cost possible - a critical project activity; it lists the results of using folding back calculations to determine the project's expected monetary value (EMV). It also uses DTA to solving a hypothetical-project problem, that of selecting new technology. [PUBLICATION ABSTRACT] |
---|---|
Bibliography: | content type line 24 ObjectType-Feature-1 SourceType-Magazines-1 |
ISSN: | 1040-8754 1930-4390 |