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Decision Tree

A graphical representation of the range of decision options available to the decision makers

These are diagrams that list the different stages in a decision-making process with clearly defined milestone points of “go/no-go”. A decision tree is sometimes prepared by a subject matter expert and is used to incrementally guide the organization through each stage of a complex decision process.

Examples

  • Selection of which service/decision tool is required [Services matrix]
  • Selection of a maintenance strategy for each asset [maintenance mix]

Applications
Liste below are some of the applications of decisio trees within the field of asset management.
Network diagram of alternative asset replacement strategies.
Fig. Network diagram (or decision tree) of alternative asset replacement strategies.


A decision tree indicating the alternative paths to reinvestment or redevelopment/replacement
Fig. A decision tree indicating the alternative paths to reinvestment or redevelopment/replacement

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