Decision and Risk Analysis
Decision-making under conditions of risk and uncertainty are common in both public and private organizations. Decision makers must consider organizational values, data, resources, and risks to inform decisions that drive their organizations towards best-value solutions and better results.
Framework for Mission-Critical Decision-Making
Our foundation in quantitative analytic techniques – that spans the spectrum of descriptive statistical analysis and predictive modeling to prescriptive optimization of portfolios of systems – enables us to understand, quantify, and communicate the likelihood and impact of risks involved in making tough decisions.
Risk is subjective, by definition, as leaders and organizations have preferences among outcomes to achieve (and adverse outcomes to avoid). That is why we have developed a number of methodologies to assess outcomes, assign probabilities of occurrence and associated values, and develop alternatives to mitigate risk and uncertainty:
- Scenario Analysis
- Risk modeling with Bayesian Networks
- Monte-Carlo and Process Simulation
- Decision Analysis with Sensitivity Analysis
Knowing the Range of Possible Outcomes
Our analysts have advanced degrees in a variety of scientific disciplines and social sciences, and they are proficient in the application of analytic methods using many different techniques and software tools. They have developed decision processes for clients facing constraints of time, data quality, organizational culture, and decision-maker accessibility. The ability to look at decision-making from many different angles enables us to clarify threats, vulnerabilities, and consequences and present options to help our clients make well-informed decisions.
Let IDI help you improve the quality of decision-making under conditions of risk and uncertainty.
We help our clients develop insights, knowledge, and confidence for better decision-making through:
- Multi-Objective Decision Analysis
- Business Case Analysis
- Portfolio Optimization
- Risk Assessment & Management
- Strategic Planning