Analysis of Alternatives - Decision Making

The video tutorial discusses approaches to decision-making, focusing on assessing options through sensitivity analysis. It highlights the assessment of options model, commonly used in life cycle costing and cost-benefit analysis. The process involves planning, organizing, identifying criteria, defining alternatives, analyzing, comparing, and reporting results. The analysis of alternatives is emphasized as a method to determine the best course of action by comparing various scenarios.

What are the criteria you would consider when identifying alternatives for a decision?

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How can simulations be used in the assessment of options?

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