What alternative?! Is that a serious question?!
The league standings, obviously, as always used - here and around the world. Dump the bottom team (Dublin City), promote the top team (Rovers) and swap the play off teams in the First Division teams win (i.e. Dundalk replace Waterford).
Those 12 teams would be subject to
strict licencing, and relegation or points penalties applied if necessary. I would have no problems kicking Shels out and docking Cork 8 points if their finances aren't up to date from their last winding up orders.
However, if someone in the top 12 meets licencing, they're in the top flight, end of story.
By definition, the 12 best teams in the country is the strongest Premier Division available.
But hey, I'm sure the FAI care about Irish football as much as they tell us they do...

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