1. A method for determining a transition to a cloud computing environment, said method comprising the steps of: identifying at least one category of service in an organization to be transitioned to a cloud computing environment; collecting relevant information about the category from one or more service category owners and/or users; analyzing the information received based on pre-defined parameters, further comprising the sub-steps of: providing a plurality of questions relating to each pre-defined parameter to the service category owner and/or user, wherein each question and the parameter has a pre-determined or a dynamic weight value; receiving an answer from a plurality of options from the service category owner and/or user corresponding to a question from the plurality of questions, each option defining the service characteristic and having a score value; calculating a cloud readiness score, risk score and/or value score based on the score value of each answer and the weight value of each question and of the parameter according to a pre-defined criteria; and comparing the cloud readiness score, risk score and/or value score with a dynamic lower threshold value and a dynamic upper threshold value to determine the category of service that can be transitioned to the cloud computing environment; and classifying the services into high cloud ready, moderate cloud ready or limited cloud ready based on the analyzed information.