Strategic Project Evaluation

Strategic Project Evaluation

Selecting the right initiatives for the right reasons to achieve important business objectives.

One of the most important efforts of every management team involves selecting the right initiatives to achieve important business objectives. Selecting those initiatives must be made on the basis of the comparative value and thoroughly considered opportunity costs among creative alternatives. However, management teams face certain perennial problems fulfilling this critical role, including...

  1. Ambiguous objectives about what needs to be achieved and why
  2. Lack of creative alternative solutions to achieve those goals
  3. Failure to consider the effects of uncertainty on possible solution value in a comprehensive way without taxing resources by analysis paralysis

We enable you to combine informed intuition, mature reasoning, and advanced analytics within a framework of decision quality best practices to help guide your management teams through the challenges of misaligned objectives, uncertainty, and risk to find creative solutions that maximize the likelihood of success. Our process delivers the following benefits:

  1. Identifies the real reason for evaluating a problem and the correct metrics for comparing competing solution alternatives in a consistent way
  2. Generates a creative set of solution alternatives so that opportunity costs are thoroughly considered
  3. Measures and quantifies the uncertainties and risks associated with each alternative so that trade-offs are easily understood and hybrid solutions can be developed that take advantage of the best elements of the best alternatives
  4. Produces an auditable and easy to understand description of the rationale for a selected course of action

In his seminal work, Why Decisions Fail, Paul C. Nutt describes four contrasting project risk management practices that are present among the most successful project executions and debacles, and reports their success rate by proportion used:

Framing (used 37% of the time)69%
Idea Justification (used 63%)47%

Creative Synthesis of Options (used 13%)86%
Single Option (used 28%)50%
Analysis/Bargaining (used 52%)70%
Subjective/Judgment (used 48%)51%

Collaborative Participation (used 25%)95%
Edict or Persuasion (used 76%)54%

If you would like to ensure that you effectively implement the project risk management characteristics most strongly correlating to success, you know what to do...

incite! decision technologies, llc

Atlanta, GA, USA | Geneva, Switzerland

+1 678 947 5997 (US) |

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