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The development and use of probabilistic models, particularly Bayesian networks (BN), to support risk‐based decision making is well established. Striking an efficient balance between satisfying model complexity and ease of development requires continuous compromise. Codesign, wherein the structural content of the model is developed hand‐in‐hand with the experts who will be accountable for the parameter...
Expert elicitation is deployed when data are absent or uninformative and critical decisions must be made. In designing an expert elicitation, most practitioners seek to achieve best practice while balancing practical constraints. The choices made influence the required time and effort investment, the quality of the elicited data, experts’ engagement, the defensibility of results, and the acceptability...
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