Title: Decision under uncertainty - Investment in a human resource Authors: Emil Numminen & Fredrik Falkenback Thesis advisor: Anders Hederstierna Purpose: To determine how well models for decisions under uncertainty can describe an investment in a human resource. Method: A standardized structured expert interview with a decision maker of human resources investments was made. The empirical material from the inter-view is then compared against the main proper-ties of the two models. Conclusions: The traditional decision analysis can describe the process of investments made in human resources where absence of management exists and the in-vestment has limited time duration. The real op-tion analysis can describe the process of invest-ments made in human resources where process is characterized by sequential decisions made about the investment.