“Precision Steel Fabrication: An Equipment Purchase Decision” case study. Answer the following question
Define the Opportunity. Identify what the problem or opportunity is and the advantages to the organization if the problem or opportunity is resolved/addressed.
Identify the Alternatives. Identify all the ways that the problem or opportunity can be solved or addressed.
Gather Data and Estimate Time Frame. Do your research, collect the data, and develop a rough time frame.
Analyze the Alternatives. Develop and implement a method to analyze the solutions. One way to do this is with a decision matrix.
Make a Choice and Assess the Risk. Choose your solution and spend some time analyzing the risk associated with the chosen solution. You might choose to develop a risk matrix to help you identify the risks.
Craft a Plan for Implementing Your Idea. This is the step where you begin planning how to implement your chosen solution.
Communicate Your Case. Now you develop the products that you will use to communicate your winning case to the organization.