Alternative Analysis
Alternative analysis, which is also called option evaluation or decision analysis, is a way to look at and compare different solutions to a problem or chance. The goal of option analysis is to find the best answer or plan of action based on a set of criteria or factors.
Here’s what you need to do to do a different analysis:
Define the problem or opportunity: Clearly describe the problem or opportunity that needs to be solved, as well as the desired results and goals.
Create options: Think of and make a list of possible alternatives or methods that could be used to solve the problem or take advantage of the chance.
Make evaluation criteria: Write down the criteria or factors that will be used to compare and evaluate the options. These factors should be clear, measurable, and related to the issue or chance.
Evaluate the alternatives: Use a marking or ranking system to find out how well each choice meets the standards by comparing it to the alternatives.
Compare the scores or grades of each option to figure out which ones are the most hopeful and which ones can’t work.
Choose something: Choose the option that meets the standards best and gives you the best chance of getting the results and goals you want.
Implement and keep an eye on the selected option. Once a choice has been made, put the chosen option into action and keep an eye on its development to make sure it is getting the results and objectives you want.
Alternative analysis is a useful tool for making decisions because it helps you find and compare different choices and figure out what might happen based on certain criteria. By using this method, organizations can make better choices and choose the best way to solve their problems or take advantage of their chances.