What is one of the key objectives of companies before making new investments?

One of the key objectives of companies before making new investments is to thoroughly evaluate the scope of the proposed solution. This involves understanding how the proposed investment aligns with the company's goals, operational needs, and strategic initiatives. A clear scope helps to identify the potential benefits, risks, and resource requirements associated with the investment.

By determining the scope, companies can ensure that they are making informed decisions that reflect their priorities and constraints. This includes assessing how the investment will impact current processes, technology, and personnel, which is crucial for achieving successful implementation and maximizing return on investment. A well-defined scope also aids in effectively communicating the plan to stakeholders, securing buy-in, and laying a foundation for evaluation and performance measurement post-investment.