Decision analysis cycle

The decision analysis (DA) cycle is the top-level procedure for carrying out a decision analysis. Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner.

The traditional decision analysis cycle consists of four phases:
 * basis development
 * deterministic sensitivity analysis
 * probabilistic analysis
 * basis appraisal.

The diagram below depicts the decision analysis cycle:



A revised form of the cycle consists of an attention-focusing method followed by a decision method, each of which is composed of three stages:
 * formulation
 * evaluation
 * appraisal.