Should I carry an umbrella today or not? Will I get this job or not? Is this project A better than project B? How many times have you asked these questions to yourself? There are several instances when you need to take important decisions in your life – trivial or major. Sometimes, it can be as trivial as wearing a particular shirt or choosing a specific vehicle. At other times, it can be as major as taking an important life decision in terms of career or employment.
During those moments, you need to stop thinking and working the chances within your mind. Instead, make use of decision trees that give accurate results and can also be used for future reference. This post lists some of the readily available templates to prepare your decision trees. When you work in an organization where you need to take critical decisions, it is essential to make use of an infographic design. This not not only makes it easier to also present to the stakeholders and enclose in the project report at a later time.
As we talk about these decision trees, it is essential to know about the top-down and bottom-up approaches. Sometimes, we know the outcomes and never knew what can be the starting point for them. In such cases, the bottom-up approach allows us to go from the outcome to the goal.
The top-down approach is widely used to estimate the statistical chance of an outcome. This approach is useful when you need to know the likelihood of an outcome and prepare the team to handle the same with a contingency plan. Another approach would be bottom-up approach, but in this case the former one is considered to be better and more effective than the later.