decision model

A model that simulates the elements or variables inherent in a business decision, together with their relationships to each other and the constraints under which they operate; the purpose of the model is to enable a solution to be arrived at in keeping with the objectives of the organization. For example, a linear programming decision model may arrive at a particular production mix that, having regard to the constraints that exist, either minimizes costs or maximizes the contribution. Other decision models include decision trees, discounted cash flow, breakeven analysis, and the payback period method

Accounting dictionary. 2014.

Look at other dictionaries:

  • Decision model — This article is about the decision model. For other uses, see Appraisal (disambiguation). A decision method is an axiomatic system that contains at least one action axiom. Formulation is the first and often most challenging stage in using formal… …   Wikipedia

  • decision model — A model that simulates the elements or variables inherent in a business decision, together with their relationships to each other and the constraints under which they operate; the purpose of the model is to enable a solution to be arrived at in… …   Big dictionary of business and management

  • Модель принятия решений (DECISION MODEL)  — Формальная схема выбора альтернатив, которая может включать в себя количественный анализ …   Словарь терминов по управленческому учету

  • Decision engineering — framework Decision Engineering is a framework that unifies a number of best practices for organizational decision making. It is based on the recognition that, in many organizations, decision making could be improved if a more structured approach… …   Wikipedia

  • Decision analysis — (DA) is the discipline comprising the philosophy, theory, methodology, and professional practice necessary to address important decisions in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly… …   Wikipedia

  • Decision making — For Decision making in groups, see Group decision making. Sample flowchart representing the decision process to add a new article to Wikipedia. Decision making can be regarded as the mental processes (cognitive process) resulting in the selection …   Wikipedia

  • Decision analysis cycle — The decision analysis (DA) cycle is the top level procedure for carrying out a decision analysis. The traditional cycle consists of four phases: basis development determinisitic sensitivity analysis probabilistic analysis basis appraisal. The… …   Wikipedia

  • Decision field theory — (DFT), is a dynamic cognitive approach to human decision making. It is a cognitive model that describes how people make decisions rather than a rational model that prescribes what people should do. It is also a dynamic model of decision making… …   Wikipedia

  • Decision theory — in economics, psychology, philosophy, mathematics, and statistics is concerned with identifying the values, uncertainties and other issues relevant in a given decision, its rationality, and the resulting optimal decision. It is closely related to …   Wikipedia

  • Model Checking — Le Model Checking désigne une famille de techniques de vérification automatique des systèmes dynamiques (souvent d origine informatique ou électronique). Il s agit de vérifier algorithmiquement si un modèle donné, le système lui même ou une… …   Wikipédia en Français

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.