1.Discuss the importance of decision making and the application of decision analysis.2.Identify and outline a decision problem relating to your work or an external organisation, which involves multiple objectives. Typical examples might be choosing a new office location, a computer system, a raw materials supplier, a software package or a new service provider. Outlined decision problem should have a clear business case. 3.Apply the simple multi-attribute rating technique (SMART) to the outlined decision problem. Each stage of the analysis should be clearly defined and presented.4.Discuss and detail the strengths and limitations of your analysis in the context of your decision proble.