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Project Design
Published in Adedeji B. Badiru, Project Management Essentials, 2021
A decision model provides the basis for the analysis and synthesis of information, and is the mechanism by which competing alternatives are compared. To be effective, a decision model must be based on a systematic and logical framework for guiding project decisions. A decision model can be a verbal, graphical, or mathematical representation of the ideas in the decision-making process. A project decision model should have the following characteristics: Simplified representation of the actual situationExplanation and prediction of the actual situationValidity and appropriatenessApplicability to similar problems.
Systems Approach to Project Management
Published in Adedeji B. Badiru, Project Management, 2019
A decision model provides the basis for the analysis and synthesis of information, and is the mechanism by which competing alternatives are compared. To be effective, a decision model must be based on a systematic and logical framework for guiding project decisions. A decision model can be a verbal, graphical, or mathematical representation of the ideas in the decision-making process. A project decision model should have the following characteristics: Simplified representation of the actual situationExplanation and prediction of the actual situationValidity and appropriatenessApplicability to similar problems
General introduction
Published in Adedeji B. Badiru, Handbook of Industrial and Systems Engineering, 2013
A decision model provides the basis for the analysis and synthesis of information and is the mechanism by which competing alternatives are compared. To be effective, a decision model must be based on a systematic and logical framework for guiding project decisions. A decision model can be a verbal, graphical, or mathematical representation of the ideas in the decision-making process. A project decision model should have the following characteristics: Simplified representation of the actual situationExplanation and prediction of the actual situationValidity and appropriatenessApplicability to similar problems
Comparative analysis of quantitative bidding methods using agent-based modelling
Published in Civil Engineering and Environmental Systems, 2020
A good decision model should lead to correct decisions for the correct reasons. Each bidding decision model has its strengths and weaknesses. The optimal choice of a firm’s bidding decision model for a specific project depends on many factors including the firm’s long-term business strategy and the project characteristics. The quantitative bidding methods explained in this study can be used as a decision support tool.