To do or not to do. How do you know? How do you calculate what's more profitable and worthwhile and does only something which is profitable be considered 'good'? Saving Changes...
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Eric SimmsSenior Program ManagerBaltimore, Maryland, United States
Good questions. ‘Correct’, ‘profitable’ and ‘worthwhile’ are all definitely subjective, and depend on the project’s goals. Once you clearly determine these, the most correct path almost always becomes apparent. The key to identifying a project’s goals is honesty with oneself. For example, is a pharmaceutical company executing a drug development project to create affordable medicines for people in need, as it tells the media? Or is the company’s true goal to create large profits for itself by being one of the first entrants into an emerging market? Once a project’s real goals are identified, it is easy to determine which future decisions will further those goals. Saving Changes...
There are lots of business analysis techniques to address your concerns. Business analysis is all about that. Needs assessment based on what the business is requesting and finding multiple solutions to assess the needs. All the solutions must be supported by studies and return on the investement such as IRR, ROI, NPV and more. All these information together will better address your concerns to understand and choose what is worthwhile and profitable. The Correct aspect, is the only subjective matter but it can be definitely a matter of liability and reliability of those evaluating the business analysis outcomes. Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
@Dario stated a great point here. It is a matter of business analysis. Or perhaps better to say that if you decide to work as business analyst then "your mission if you decide to accept it" is deal with that. The hard part is ambiguity and subjectivity. To be successful as business analyst you have to translate subjetivity into objectivity without forget that reality is a matter of perception. Saving Changes...
