decisionAccelerator Constraints (screencast)

Welcome to this screencast of decisionAccelerator, a decision modeling tool developed by fastworks and implemented as an add-in to Microsoft Excel. I'll focus on modeling Constraints in this screencast.

There are two elements of our decision process; model and constraints. We apply constraints to the model such as; costs, risks, and resources in order to determine the most cost effective way to achieve the goal.

The prioritization model is what we want to achieve and the constraints help us understand the implications these limitations have on our decisions. In other words, what adds the greatest value and how can we achieve the most benefit for the lowest cost?

We use the model to determine what can be done based on the prioritized alternatives and the constraints placed on them, such as cost and risk. Many times, 20% of the cost or alternatives generate 80% or more of the benefit. Knowing which 20% to focus on is the trick, and the real value of this modeling process.

Category:

Science & Technology

Tags:

• decisionaccelerator
• fastworks
• Microsoft excel add-in
• decision modeling
• decision making