An evaluation methodology is presented by which Prince George's Community College can assess alternative responses to anticipated fiscal constraints. The paper first points to four types of responses to financial problems and reviews two studies of community college responses to financial limitations. It then states the objectives for the development of this evaluation methodology and specifies criteria for evaluating policy options. Additionally, it reveals the limitations and constraints which must be considered when evaluating policy alternatives. Next, a mechanism is presented for assigning weight to options. The paper then enumerates the elements of two policy options: continuing with past practices of adding new programs as they are needed and implementing a policy of progressive retrenchment. After the information needed to assess these policies is identified, the steps involved in evaluating the alternatives are reviewed. The paper then notes that in addition to evaluating the options with respect to their fiscal impact, each component of the policy option must be evaluated with respect to its adoption and implementation. Finally, as an expository example, the progressive retrenchment option is evaluated using intermediate revenue estimates for fiscal years 1983 through 1986. Supporting data are appended. (AYC)