Developing a Business Case

Step 5: Make a Choice and Assess the Risk

After analyzing all the data on your various alternatives, you need to choose the alternative that seems to be the best, and then assess any risks associated with it. By assessing the risks, you can decide how you might mitigate them and whether you should modify your recommended course of action to reduce the risk.

Selecting the best solution

Once you’ve compared the pros and cons of your alternatives, you’ll need to select the best possible solution—and justify your choice. Some companies track data on how various metrics affect their overall financial performance (for example, how customer satisfaction ...