Risks and Decision Making
Risk and Decision analysis
Conventional supply modelling tools are essentially forecasting tools. While they can support decision making on workforce supply a full analysis of requires account to be taken of the costs, benefits and probability of different outcomes. In some cases, such as the use of 'pull' models, the use of supply models without such analysis can lead to bad decisions, such as the cuts in training based on short term supply considerations rather than longer term need.
Tools to support this are relatively undeveloped but there has been some recent work to develop tools and this which will be described in this section.