Ever faced a point in your company where you are pitched a great idea. You know what the idea is and you like it. Every person in your team is saying it’s a good idea however you just cannot decide whether you should go ahead with it. When this happens you need to reconsider the facts and get things straight. You cannot just go forward with an idea just because it sounds appealing to you right now. You need to think if it is going to stick around. The way to do that is to get the goals lined up. You need to revaluate the idea and then think about approaching with it.
Even starting the project based on the idea is going to cost you money so how can you be sure that it is going to be worth it? You realize that the company wants to make money of the idea just because the idea is appealing to your or a few individuals doesn’t always mean that idea should be pitched. It can go horribly wrong if that is the case. So you will have to see the possible outcomes and the shortcomings of the projects based on the idea and then see if you want to go through with it. However there is a good method you can go for which will help you to revaluate an idea and make up your mind if you wish to go forward with it or not.
When do you Need a Go/No-Go Analysis?
You will not need a go/no go analysis every time for any decision you take. Yes if someone has retired you need to hire someone to fill his shoes, you do not need to analyze that. There are moments when you will require having a go/go analysis and some of those moments have certain criteria. Here are some of them: