Detail: Evaluate Business Opportunities

Before deciding how to spend your resources, you must understand your options for creating new revenue streams, reducing costs, and improving quality. Use the links below for an overview of how to identify and evaluate opportunities. For details about a role, activity, or artifact in the diagram, click on its icon.

More detail: Purpose - How to Staff

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Purpose

The purpose of this workflow detail is to:

• Identify major opportunities for stakeholders based on industry and enterprise research
• Assess the opportunities' benefits and drawbacks based on agreed-to criteria
• Prioritize these criteria into a set of strategy alternatives suggesting the greatest potential

These activities synthesize findings about the industry and organization into a strengths, weaknesses, opportunities, and threats (SWOT) analysis. By analyzing and validating the opportunities, you set priorities that shape the business strategy. The results may be captured in Artifact: Opportunity Analysis.

How to Staff

The Role: Business Strategist is responsible for identifying and analyzing the business opportunities. The Business Strategist should be knowledgeable about the stakeholders' organization and the industry in which it operates. The Role: Business Process Analyst understands the stakeholders' internal processes and can support the Business Strategist in evaluating the likely impacts these opportunities will have on the organization. The Role: Software Architect offers input on the risk, feasibility, and cost for technologies associated with the potential opportunities.