Optimised Decision Making (ODM) is a decision making process that facilitates determination of optimal maintenance and renewal treatments based on benefit costs and judged against organisational needs and risks.
International Infrastructure Management Manual
The International Infrastructure Management Manual gives two definitions of Optimised Decision Making:
- A formal process to identify and prioritise all potential solutions with consideration of financial viability, social and environmental responsibility and cultural outcomes.
- An optimisation process for considering and prioritising all options to rectify existing or potential performance failure of assets. The process encompasses NPV analysis and risk assessment.