Analysis of Alternatives - Decision Making

The video tutorial discusses approaches to decision-making, focusing on assessing options through sensitivity analysis. It highlights the assessment of options model, commonly used in life cycle costing and cost-benefit analysis. The process involves planning, organizing, identifying criteria, defining alternatives, analyzing, comparing, and reporting results. The analysis of alternatives is emphasized as a method to determine the best course of action by comparing various scenarios.

What are the criteria you would consider when identifying alternatives for a decision?

How can simulations be used in the assessment of options?