K-MSG-L Notes 6 (6) - information,assumptions,.Prescriptive...

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information, assumptions, and circumstances he wishes to impose on the choice. Prescriptive  details is directed toward answering the “what should be done” question. Provision of this details needs the utilization of the predictive details. Predictive details by itself is not adequate for  selection. An evaluation of the predicted results together with the objectives and principles of the manger provides that basis for deciding. For example, suppose that a administrator is considering a new modifying promotion substitute. The new substitute being considered has higher  “predicted” returns but also has higher risks and needs more management tracking. The choice as to whether to modify plans relies on the supervisors evaluation of the worth of extra cash versus  the commitment of a longer period and higher threat. Thus, the objectives and principles of a 
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  • Spring '11
  • DavidReedPh.D.,PMP
  • choice. Prescriptive  details, details. Predictive details, new modifying promotion, extra cash versus, management economists. Financial, choice. HISTORICAL PERSPECTIVE

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