How to chose between two decision options using the Combining Options technique ?
- If one has only two options, it’s critically important to consider a possibility that they aren’t mutually exclusive; that is both can be executed without working against each other in any noticeable way.
- In many cases when problem solving, the choice of whether to execute two or more options simultaneously comes down to one of
- Marginal Cost
- Marginal Value
- This is when one uses the Combining options technique; a series of tests that can be applied to evaluate two or more decision options as follows:
- Is there any reason why we can’t do all of these ?
- Can we find a way to afford them all ?
- Do we have enough resources to execute them all ?
- Do they interfere with each other ?
- Is there marginal value in doing all of them ?
- What is the marginal cost of simultaneously executing the second option ? That is, what costs will the second option incur that the first otion doesn’t already cost us ?
- What is the marginal value of simultaneously executing the second option ? That is, what additional benefits will it bring that the first option alone won’t achieve ?
- Note: Above marginal costs and benefits aren’t always measurable in dollars, so be sure not to focus exclusively on budgetary impacts or benefits.
A structured process to think through when comparing alternatives at any stage of product life cycle.