7′ video explanation of the essential logic of decision tree analysis based on Expected Monetary Value (EMV) by way of an example worked on a white board. As can be seen easily, the EMV and decision tree constructs are potentially quite valuable, and the logic and math involved are extremely straightforward. However, as can also […]
Tag: Quantitative Risk Analysis
“Tornado Diagrams…”
Here is a 4′ introduction to two key constructs in quantitative risk analysis, namely sensitivity analysis and the tornado diagram. Useful slides, basic definitions.