List any three normative models of Choice Phase of decision-02422
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vu mth718 Topics in Numerical Methods.
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vu mth718 Mid Term Solved Past Paper No. 14.
The Choice Phase
A course of action is selected out of the available alternatives as devised in the design phase. Typical Activities include:
- Get information
- Final evaluation
- Sensitivity analysis
--OR--
Types of normative model in choice phase of decision making process:
Optimization
Finding an alternative with the most cost effective or highest achievable performanceunder the given constraints, by maximizing desired factors and minimizing undesiredones. In comparison, maximization means trying to attain the highest or maximum resultor outcome without regard to cost or expense.
Rationalization
- More of good things, less of bad things
- Courses of action are known quantity
- Options ranked from best to worse
Sub optimization
Decisions made in separate parts of organization without consideration of whole situation where a process, procedure, or system yields less than the best possibleoutcome or output, caused by a lack of best possible coordination between differentcomponents, elements, parts, etc.
