LEARNING OBJECTIVES
After completing this supplement, you should be able to:
1. Describe the different environments under which operations decisions are made.
2. Describe and use techniques that apply to decisions making under uncertainty.
3. Describe and use the expected-value approach.
4. Construct a decisions tree and use it to analyze problem.
5. Compute the expected value of perfect information.
6. Conduct sensitivity analysis on a simple decisions problem.

SUPPLEMENT OUTLINE
Introduction
Causes of Poor Decisions
Decisions Environments
Decisions Making under Certainty
Decisions Making under Uncertainty
Decisions Making under Risk
Decisions Trees
Expected Value of Perfect Information (EVPI)
Sensitivity Analysis
Summary
Key Terms
Solved Problems
Discussion and Review Questions
Problems
Selected Bibliography and Further Reading