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Project Decision Analysis Process
“3C” Principle of Project Decision Analysis
The decision making process is a framework that helps project managers solve a variety of decision-making problems. There are no exact recipes for how decision analysis should be structured. The process can be tailored for different companies, types of projects, and the types of decisions that must be made.
Any decision analysis process is based on three main rules, which can be called 3C principle (see figure 1):
1.
Consistency: It is important to standardize the decision analysis process for similar kinds of problems and opportunities to enable consistent decision making over time.
2.
Comprehensiveness: Decision analysis processes should include a comprehensive assessment and analysis of the business situation. Missing or incomplete information can lead to incorrect decisions.
3.
Continuity: The value of decision analysis will significantly diminish if it is done only in discrete situations during the course of a project. Decision analysis is a continuous process of making and refining decisions during a course of a project.
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