What is an alternatives analysis?
The Challenge
The next time you find yourself needing to make a difficult decision, perform an alternatives analysis. Come up with at least three possible solutions and run a full analysis of what outcomes those would lead to. Be sure to calculate cost, resources, time, and any other elements that will help you fully flesh out what each alternative would entail.
Why do this?
An alternatives analysis gives you true data to work with when you're considering how to solve a tricky problem.
Being diligent about evaluating all of your options will help you to save plenty of time and money in the long term, as each individual decision adds up.
What’s next?
After running the analysis, have another colleague review it to make sure you accounted for all the necessary elements.