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This phase of decision making is very important and need to be done very objectively. This is a mental process of seeing through the consequence for each alternative systematically. Essentially one must think through the advantages and disadvantages of each available alternative. After identifying the alternatives, each alternative should be evaluated for its feasibility and its short term and long term effects. These are based on the goals, values and standards that form the yardsticks, by which one can evaluate and eliminate the alternatives that are not relevant and feasible. If the decisions are affecting the life style or long term goal, it may take time and need discussions among the family members for analyzing each and every alternative.
The criteria for evaluating alternatives is an integral part of the decision- making process. As we assess and weigh each alternative, the values, goals, and standards are sources of input. The criteria we established is greatly affected by these.
Effective decision making involves assessing each alternative in terms of the opportunity costs and benefits. The satisfaction we anticipate each alternative will produce should also be evaluative criteria. The purpose of evaluation of alternatives is to assess the costs, benefits, and anticipated satisfaction which would be derived from each alternative.
Example: While choosing a subject area for degree , alternatives like whether to chose the medical area, engaging area, law area or commerce/ management area have to be anlysed in light of the financial burden for the family, the strength of the child to study in that area and excel, the college they going to opt for etc..
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