How to filter strategic options?

A Pareto analysis is a quality control tool. It is a simple technique for prioritizing problem-solving and decision making so that the first action you take, would have a multiplier effect to solving problems.The Pareto analysis provides a graphic image of the Pareto principle, a theory maintaining that 80% of the output in a given situation or system is produced by 20% of the input.

Stage-gate is a new product development or process improvement tool. Every product or process innovation begins with an idea and ends with the launch. Using this tool every business has to take several steps defined as processes or stages separated by gates. The stages represent  the activities and research phase while the gates represent the decision-making phase following every stage.