1. Build, Buy, Partner Analysis Check List
Objective
Questions to Ask:
Build
Buy
Partner
Maintain Leadership
Are you a pioneer in this market space? i.e. no one to buy or partner?
Yes
Do have the resources to execute faster than competitors?
Do need to maintain a leadership position through internal capabilities?
Protect
Core 
Is the sought capability core to your business?
Do you need to own the IP?
Are you dependent upon patentable technology?
Do you lack the internal expertise?
Are customers are looking for best of breed solutions?
Are you targeting niches in your market?
Time to Market
Do you lack the time to execute a build during the window of opportuntiy?
Is time to market critical?
Are seeking quick entry into a new capability or market?
Do you want to leap frog by capturing external innovation?
Do you wish to avoid time and complexity of integration of an M&A?
Reduce Risk
Do you feel the best way to manage risk is to own all of it?
Is the market consolidating such that partners of choice are acquisition targets of your competitors?
Is acquiring proven capabilities important?
Is this a volatile or dynamic market?
Are there emerging standards but no clear 'winner'?
Do you want to share risk to mitigate exposure?
Do you want to strategically hedge your bets with multiple options?
Conserve
Resources
Are you cash constrained?
Are you resource constrained? (managerial, technical, facilities?)
What does the cost/benefit model predict? Include the cost of time and risk. ?
Build, Buy, Partner Analysis Check List
Here is a tool, to help guide the Build, Buy, or Partner decision. The more ‘yeses’ in the column, the more that column indicates the appropriate strategy.
This also provides a frame work within to conduct the due diligence.