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conduct an evaluation of strategic options and determine the best…

- - - - business analtics
        
        see separate chart
      - Value/Effort assessment
        
        Evaluates the potential impacts of the strategic options
        Value revenue, profit or return
        Effort resourcing, time, cost and risk
        
        The value/effort assessment should be the first check of the evaluation process, because it can immediately eliminate dead ducks and prioritise low-hanging fruit options. This then gives an initial prioritised list which has culled the options not worth the time to evaluate further.
        
        diagram!!!!!! 5.9
        
        The four quadrants
        
        Low-hanging fruit. High-value and low-effort options should always be pursued.
        
        Blood, sweat and tears. High-value and high-effort options require time and resources, but have great potential to create high value for the organisation. These options should seriously be considered, including the possibility of focusing on fewer options because of the extensive effort needed to realise each option.
        
        Delegate or dump. Low-value and low-effort options can often be delegated as tasks to the lower levels of the organisation. Alternatively, given the minimal value creation, these tasks can be dumped (rejected) altogether if they do not provide sufficient value.
        
        Dead ducks. Low-value and high-effort options are not worth extensive effort, given the expected limited value.
      - risk assessment
        
        see separate chart
      - Weighted criteria evaluation tool
        
        table 5,1!!!!!!!
        
        The aim of the weighted criteria evaluation tool is to objectively compare and focus on the options that show the most promise in terms of opportunity, size and capability to implement. This approach also helps to rule out those that are not at all attractive—the next stage of identifying the options that can be clearly rejected. While the process will hopefully identify one ‘must do’ project for the organisation, it is important to retain the options that rank in the middle, as with the value/effort assessment methodology.
        
        Organisations generally develop their own criteria to evaluate different options, depending on what is driving the development of the strategy.