Tools for Decision-Making

The process of strategy evaluation is to determine whether a chosen strategy is achieving the organization's objectives and/or whether it best meets the defined objectives. Ideally, this decision is taken against the background of different time perspectives (short, medium and long term).

Strategy evaluation thus “closes the strategic loop” of defining objectives, identifying key drivers, developing strategic options to address the key drivers and finally evaluating the strategic options based on the objectives defined in the beginning.

The general approach for the Project Evaluation approach is to

  • Identify and prioritize the importance of evaluation criteria and
  • Match alternatives against those criteria

An evaluation of alternative options from different perspectives (either over time or by stakeholders) adds additional benefit and increases confidence regarding the resulting decisions.

The Project Evaluation module consists of a set of templates for evaluations that offer a list of evaluation criteria that can set up a customized Project Evaluation document quickly.

The general approach for the Applicant Evaluation approach is to

  • Identify and prioritize the importance of evaluation criteria and
  • Match alternatives against those criteria.

An evaluation of alternative options from different perspectives (either over time or by stakeholders) adds additional benefit and increases confidence regarding the resulting decisions.

The Applicant Evaluation module consists of a set of templates for evaluations that offer a list of evaluation criteria that can set up a customized applicant evaluation document quickly.

A common task for management is the identification of ideal locations for production sites. The Site Evaluation template provides for a specific use of perspectives.

Instead of using stakeholders or time as perspectives, it distinguishes between strategic options either to invest in a site, to maintain a site, as is or to leave the site.

See also:http://en.wikipedia.org/wiki/Site_selection

In cases of missing data or in cases where the effort to collect quantitative data is not worth the expected benefit, it is recommended to run a qualitative evaluation.
The Supplied Evaluation/Supplier Portfolio tool supports such a scenario well. With it, it is possible to evaluate alternative options from different perspectives (either over time or by stakeholders) for additional insights and increased confidence regarding the resulting decisions.

The associated set of templates offers a list of evaluation criteria to set up quickly a customized supplier evaluation document. In addition, it is possible to cluster evaluation criteria easily and quickly into distinctive dimensions and to generate a Supplier Portfolio.

The Option Evaluation tool itself, part of this suite, helps the analyst to focus the evaluation on qualitative aspects of the support dimensions. To simplify the evaluation, quantitative data can be imported via export to Excel and import to the tool Data Trends.