Alternatives Analysis

Correct Answer: To evaluate if a proposed solution is viable and achievable within organizational constraints

The primary purpose of conducting a feasibility study during the alternatives analysis phase is to evaluate if a proposed solution is viable and achievable within organizational constraints. This is essential because it helps organizations determine if they have the necessary resources, capabilities, and conditions to successfully implement a proposed solution. Feasibility studies specifically focus on assessing technical, economic, operational, and organizational factors that could impact the success of a solution implementation. This evaluation helps prevent organizations from investing in solutions that may not be practical or sustainable. The other options are incorrect because: Analyzing historical data and performance metrics is more related to project planning and estimation, not feasibility assessment. Evaluating technical specifications and creating system architecture documentation is part of solution design, which comes after determining feasibility. Gathering stakeholder requirements and creating functional specifications is part of requirements analysis, which is a different phase from alternatives analysis and feasibility assessment.

Correct Answer: Weighted Ranking Method

The Weighted Ranking Method is the most appropriate technique for comparing multiple solutions based on weighted criteria during alternatives analysis. The Weighted Ranking Method is specifically designed to evaluate different options by assigning weights to various criteria and then scoring each alternative against these weighted criteria. This systematic approach helps objectively determine the best solution. The Cost-Benefit Analysis with Weighted Parameters is too specific to financial aspects and may not encompass all evaluation criteria needed for a complete analysis. The Analytic Hierarchy Process with Risk Factors is more complex than necessary and focuses heavily on hierarchical decision structures. The Pugh Matrix Evaluation System, while similar, is primarily used for concept selection in product development and engineering contexts, rather than general business analysis alternatives evaluation.

Correct Answer: Creating a decision matrix that maps each alternative to its associated risks and benefits

A decision matrix that maps alternatives to associated risks and benefits is the most effective way to document risks and opportunities because: - It provides a clear, structured format for comparison - It enables side-by-side evaluation of multiple alternatives - It facilitates objective decision-making - It makes it easy to visualize and communicate trade-offs Why other options are less effective: Projecting scenarios over five years is too speculative and may not address immediate risks and opportunities. Creating separate risk registers and combining them later is inefficient and may lead to disconnected analysis. Stakeholder interviews alone are subjective and may not capture all technical or strategic risks and opportunities. While valuable input, interviews should supplement, not replace, structured analysis methods.