What factors should be identified to inform decision-makers about the cost and benefit of each option?

Identifying factors that inform decision-makers about the cost and benefit of each option is pivotal in making effective choices. Focusing on cost and effectiveness allows decision-makers to evaluate how much financial investment is required versus the value or success rate expected from an option. Cost encompasses not just the immediate financial implications but also potential long-term expenditures related to maintenance, resources, and operational efforts. Effectiveness measures the ability of the option to meet its intended goal or desired outcomes.

By concentrating on these two aspects, decision-makers can calculate the return on investment (ROI) and weigh it against the projected benefits, leading to a more informed and strategic selection of options. This understanding helps to ensure that resources are allocated efficiently and that the chosen approach yields the best possible results for the organization.