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xerciseIssuesList any issues (eg technical, architectural, cultural) to be taken into account when considering the potential implementation of the above option.ConstraintsList any constraints to be taken into account when considering the potential implementation of the above option.RisksList any risks (eg business, safety, regulatory) to be taken into account when considering the potential implementation of the above option.AssumptionsList any assumptions to be taken into account when considering the potential implementation of the above option.Version: a Page 14Date: 3 November 2022 Options AnalysisAnalyse and rate each of the above options based on the following criteria:? Financial costs? Nonfinancial costs? Financial benefits? Nonfinancial benefits? Duration? Risks? Issues? Other Financial costsCalculate the financial costs associated with each option and prise an overall rating on a scale of 110. Financial costing examples include:Oneoff project costs (CAPEX)? Internal labour costs? 3rd party vendor costs? IT hardware costs? IT software costs? Premises costs? Communications costs? Training costsOngoing Support Costs (OPEX)? Ongoing support costs? Ongoing maintenance costs? Ongoing training costs NonFinancial costsIdentify all nonfinancial costs associated with each option and prise an overall rating on a scale of 110. Nonfinancial costing examples include:? Temporary reduction in customer service during rolloutVersion: a Page 15Date: 3 November 2022 Financial benefitsCalculate the financial benefits associated with each option and prise an overall rating on a scale of 110. Financial benefit examples include:? Revenue generation? Cost reduction NonFinancial benefitsIdentify all other nonfinancial costs associated with each option and prise an overall rating on a scale of 110. Nonfinancial benefit examples include:? Improved anisational culture? Improved brand image Duration Identify the likely project duration for each option and prise an overall rating on a scale of 110. (NB The shorter the duration, the earlier the benefits will be realised and consequently the higher the overall rating). Risks Identify all risks associated with each option and prise an overall rating on a scale of 110. Risk examples include: Issues Identify all issues associated with each option and prise an overall rating on a scale of 110. Nonfinancial cost examples include: Other Identify any other criteria applicable to each option and prise an overall rating on a scale of 110. Options SelectionComplete the following table in order to prise a plete view of all options available. Calculate the total score based on a weighting applied to each rating type.Version: a Page 16Date: 3 November 2022Options Rating TableCOSTS BENEFITS OTHEROption No.Financial costsTangible costsIntangible costsFinancial benefitsTangible benefitsIntangible benefitsRisk ratingIssues ratingProject duration ratingOther criteriaTOTAL SCORE123Select the remended option based on the highest score from the ‘Options Rating Table’ above.Version: a Page 1Date: 3 November 20228 RemendationsBased on the selected option above, provide a listing of the specific remendations made in order to ensure the timely approval and implementation of the final solution. Example remendations include:? That the remended option be approved immediately? That the timescales for implementation are approved immediately? That the ‘next steps’ (as defined below) are approved immediately for execution? That the required budget is allocated immediately in order to undertake the ‘next stage plan? That the project manager is allocated immediately in order to undertake the ‘next stage plan? That the required resources are allocated immediately in order to undertake the ‘next stage pla