1. Define Product Requirements 📝:

    Objective: Understand what the product needs to achieve.

    Guidelines: Identify key features, the target audience, budget, and deadline.

    Excel Template:

    Key Features Description Target Audience Budget Deadline
    Feature 1 Description
    Feature 2 Description

  2. Evaluate Available Solutions 🔍:

    Objective: Research existing solutions in the market that meet your requirements.

    Guidelines: Look at competitors’ products, read user reviews, consider free and paid solutions.

    Excel Template:

    Competitor Products Description User Reviews Summary Potential Solutions (Free) Potential Solutions (Paid)
    Product 1 Description Summary Free Solution 1 Paid Solution 1
    Product 2 Description Summary Free Solution 2 Paid Solution 2

  3. Assess In-House Capabilities 🏠:

    Objective: Evaluate your team's skills, resources, and capacity.

    Guidelines: Assess your team's skills and resources, analyze your team's workload and capacity.

    Excel Template:

    Team Skills Description Resources Workload and Capacity
    Skill 1 Description Resource 1 Capacity Description
    Skill 2 Description Resource 2 Capacity Description

  4. Cost-Benefit Analysis 💹:

    Objective: Compare the cost of building vs. buying.

    Guidelines: Estimate costs for both scenarios, consider short-term and long-term benefits.

    Excel Template:

    Scenario Short-term Benefits Long-term Benefits Build Cost Buy Cost
    Building Description Description Input cost
    Buying Description Description Input cost

  5. Risk Assessment 🎲:

    Objective: Consider the risks associated with both options.

    Guidelines: Identify potential risks for each option, evaluate impact and likelihood of risks.

    Excel Template:

    Risks (Building) Description Impact and Likelihood (Building) Risks (Buying) Description Impact and Likelihood (Buying)
    Risk 1 Description Impact and Likelihood Description Risk 1 Description Impact and Likelihood Description
    Risk 2 Description Impact and Likelihood Description Risk 2 Description Impact and Likelihood Description