Editing Decision model (section)

==Formulation==
[[Formulation]] is the first and often most challenging stage in using formal decision methods (and in [[decision analysis]] in particular). The objective of the formulation stage is to develop a formal model of the given decision. This may be represented as a network of decision-making elements, as a [[decision tree]] or in other ways depending on the specific situation. The formulation may be conceptual or may include all the necessary decision logic ([[business rules]]) required to define the decision-making.