Ranking of Business Ideas in Excel (Management Consulting Projects)

Description
Ranking of Business Ideas in Excel (Management Consulting Projects)
During consulting projects, you will have to take into account many criteria to make the optimal solutions. You will have to deal with complex issues, analyze them and present them in an easy, digestible way to your customers. One of the most useful tools that will help you achieve that is a ranking. It can turn complex reality into one metric that can be easily understood.
In this tool, I will show you how you can rank different potential business ideas using standardized criteria. We use as an example a Fashion Retailer.
The tool will help you to rank the ideas from the best to the worst. This is the starting point of a lot of discussions, especially around topics like:
1. What ideas are worth pursuing?
2. What resources, Capex require?
3. Which ideas are worth being further analyzed
4. What is the potential impact that business ideas can generate

A few words about the ranking.
1. Input Data. The data about the ideas should be put in the sheet “Data”. In the example, we rank different business ideas that are supposed to improve the profits for a Fashion Retailer. We have 4 criteria: Impact on EBITDA (column “K”), Investment Required ((column “L”), Difficulty level (column “M”), Time needed to implement the idea (column “N”). For every criterion, you rank every idea from 1 to 5. Afterward, in row 3 you define the weights for every criterion. Based on that in column “O” the tool calculates the average weighted score for every idea.
2. Ranking. In the sheet “Ranking” you have a ranking of all ideas. You have also slicers that enable you to browse through the data. If you change the data in the sheet “Data” refresh the Pivot Table to get the adjusted results
3. Cost-Benefit Analysis. We have also added examples of cost-benefit analysis for 3 ideas. For Example in the sheet “Self-Checkout”, we calculate the Capex and benefits related to implementing this idea. Apart from that we also analyze Vending and Kids Collection. In the Sheet “Comparison” we see a summary of those 3 ideas
4. Criteria. The exact definition of every level for the criteria is done in the sheet “criteria”