Decision Trees in Microsoft Project
A decision tree is a tool for picking between multiple alternatives. If you run an investment fund, for instance, you may have to select between a cautious, slow-growth strategy or invest in higher-risk, high-growth stocks. Decision trees help evaluate and determine the best option. You can use decision trees in conjunction with Microsoft Project.
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Decision Trees
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To create a decision tree, draw a square on paper for the decision you need to make. Draw a line from the square to another box for each possible choice facing you. If those choices lead to more decisions, draw more lines, continuing until all your paths reach the final outcome. Evaluate the probability of the different outcomes and the potential gain or loss from each to determine the best of the different branching paths to follow.
Starting a Project
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If you're considering a new project, Microsoft suggests analyzing the options using decision trees. By sketching out your decision this way, you determine what changes you need to make to your use of Project, such as new permissions for different users, different settings and possibly a different project template or work item types. Decision trees also help decide what sort of hierarchy you need on the project and whether your server capacity is adequate.
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Project Decisions
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Project doesn't generate decision trees, but you can create them in Word and PowerPoint or using an add-on for Excel. There are also a number of Windows-compatible software packages available, some of which are freeware, for making decision trees. Once you draw up a decision tree, you can use the information and the favored outcomes to chart your project's critical path and critical tasks and use that information in Project to set deadlines and goals.Project only creates one critical path for each project rather than a decision tree.
Considerations
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IT project manager Johan Beijar recommends Project users approach the software as a tool for making decisions rather than trusting it to decide for them. Project provides information about deadlines and progress markers and how well you're meeting them, but no software can provide an accurate assessment of your team's competence, dedication or spirit. The appropriate amount to rely on Project varies between individuals and projects, so it may take time to learn to use it, and decision trees, effectively.
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