Editing Decision model (section)

==Appraisal==
Appraisal is the third and most insightful stage in using formal decision methods. The objective of the appraisal stage is for the decision maker to develop insight into the decision and determine a clear course of action. Much of the insight developed in this stage results from exploring the implications of the formal decision model developed during the formulation stage (i.e., from mining the model). Central to these implications is the formal recommendation for action calculated during the evaluation stage. Other implications include various forms of [[Sensitivity analysis|Sensitivity]] of the recommendation to various components of the decision model. Insight may also result from discussion of the key aspects of the reasoning that led to the formal decision model (i.e., by justifying the model). Possible actions following the appraisal stage include implementing the recommended course of action, revising the formal model and reevaluating it, or abandoning the analysis and doing something else.

Justifying a decision model entails exploring and explaining the reasoning that led to the formulation of particular aspects of the decision model.

Mining a decision model entails extracting information (e.g., sensitivity, [[value of prediction]], and [[value of revelation]]) from a given decision model.