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AOT-15-Forecasting

Authors
  • Acronyms used
    • Par: Parameter
    • Sc: Scenario
    • P: Probability

1- Defining the event

  • What is the scenario that you want to assess?
    • Main Scenario:

  • Is the scenario precisely defined, in terms of metrics, timeline, terms definition?
  • What is the timeline associated to the scenario?
  • How do you define each terms of the question?
  • What metrics are associated to this scenario?

2- Breaking the big question

  • What should be true to answer positively to the question?

2.1- Probability tree

  • Are all your smaller events mutually exclusive and collectively exhaustive ?
  • Is there some branches of the probability tree that you can exclude?

3- Influencing parameters

  • What are the parameters that could potentially influence the event to happen? What is the weight of each parameters? How does the parameter affect the scenarios?
    • Par1

    • Par2

    • Par3

    • Par4

    • Par5

    • Par6

    • Par7

    • Par8

4- Study the precedence

  • Is there similar situation that happened in the past?
  • What was the result of those situations?
  • How similar were those situations to the main scenario?
  • What are the base rates associated to those events ?

5- Assign probability

  • Based on the influencing parameters you identified and the different scenario, assign probabilities to each of the scenario.
  • Instead of probability values could you assign a probability distribution to your events?
    • Main Scenario
      • P: %
    • Sc1
      • P: %
    • Sc2
      • P: %
    • Sc3
      • P: %
    • Sc4
      • P: %
    • Sc5
      • P: %

6- Metathinking

6.1- Debiasing

  • [[AOT-03-Cognitive Bias]]
  • Are you favouriting a personal point of view?

6.2- MetaProbability

  • How confident are you about your knowledge of the subject?

7- Monitoring

  • What information should you monitor to see if the situation is evolving?
    • What changes would make the main scenario more likely to happen?
    • What changes would make the main scenario less likely to happen?