Is Decision Analysis a complicated process?

We've all done decision analysis in the form of a simple list of pros and cons. The mathematical "certainty" of counting the pros and cons helps us decide whether an action is safe and likely to succeed. Other types of decision analysis are cost-benefit analysis, net present value, internal rate of return, and payback period, which are a bit more complex than a simple "pros-and-cons" list, but not beyond the reach of most. These decision support tools deliver near-mathematical predictions for what is likely to occur in the future.

A decision analysis tool that can help project teams stay focused on the most valuable deliverables is Project Value Models. Another useful tool that gives a visual image of the pros and cons of various alternatives is a project alternatives tradeoff table.