Decision-Making Framework

I’ve often been in a position where I’ve been asked to evaluate an idea, product or service. Sometimes it’s easy – the proposition is way off brand, there’s no money in the budget or the request is simply unrealistic. But sometimes it’s not so easy – you might have to compare against another alternative or it might be something you have a gut feel that won’t work. Or sometimes it’s easier to say yes without giving the decision the due diligence it requires.

Whether it’s evaluating a sponsorship proposal or whether to launch a new product, the following provides a general framework for evaluating your options and making a decision that you can justify and stand behind.

 

For each evaluation criteria, rate it Red/Amber/Green (R/A/G) and include any comments to justify your rating.

 

Suitability
Does it address key strategic issues?

1) Does it solve for a key business issue or objective?
2) Could we achieve competitive advantage? How important is this? Is it sustainable?
3) Does it deliver against a key consumer need? How important is this?
4) Does it deliver against a key channel/customer need? How important is this?

 

Feasibility
Do we have the available resources?

1) Time
2) People
3) Money
4) Capacity / Ability to Supply?

 

Acceptability
Risk vs. Return

1) Investment Required
2) Projected Financial Return
3) Strategic Risks
4) Compliance Risks (e.g. Legal, occupational health and safety)
5) Financial Risks
6) Operational Risks
7) Commercial Risks