Project Screening MatrixCriteriaWeightProject 1Project 2Project 3Project 4Project 5Strongsponsor2.093613Supportsbusinessstrategy5.0578010Urgency4.022251010% ofsales fromnew products3.00O3101Competition1.025668gapFill market3.051890Weightedtotal 7. The Custom Bike Company has set up a weighted scoring matrix for evaluation ofpotential projects. Below are five projects under consideration.a. Using the scoring matrix in the following chart, which project would you ratehighest? Lowest?b. If the weight for "Strong Sponsor" is changed from 2.0 to 5.0, will the projectselection change? What are the three highest weighted project scores with thisnew weight?c. Why is it important that the weights mirror critical strategic factors?

Input data: Here, there are a total of five projects, There are a total of 6 criteria, and each…

Answered: 7. The Custom Bike Company has set up a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

Can you help me with this problem The Custom Bike Company has set up a weighted scoring matrix for evaluation of potential projects. Following are five projects under consideration. 1. Using the scoring matrix in the following chart, which project would you rate highest? Lowest? 2. If the weight for “Strong Sponsor” is changed from 2.0 to 5.0, will the project selection change? What are the three highest-weighted project scores with this new weight? 3. Why is it important that the weights mirror critical strategic factors?
There are 11 project selection methods which are: Benefit measurement methodsBenefit/cost ratioEconomic modelScoring modelPayback periodNet present valueDiscounted cash flowInternal rate of returnOpportunity costConstrained optimization methodsNon-financial considerations. Which one of these techniques or methods are used in construction projects for the benefit of citizens?
1. Analyze the cost variance metric, and include the equation and what the acronyms stand for. 1. Describe one project software program that could help a project manager control costs.
2. Assume the founders weigh a project ’ s NPV twice as much as both obtaining/retaining a leadership position and making use of the Internet. Use the weighted factor scoring method to rank these projects. Which projects would you recommend Handstar pursue?
Indirect cost for a project are $12,000.00 per week as long as the project lasts. The project manager has supplied the cost and time information shown. Use the information to: A. Determine an optimum crashing plan. B. Graph the total costs for the plan.
Project selection criteria are typically classified as _? Select one: a. Short-term and long-term b. Strategic and tactical c. Financial and non-financial O d. Required and optional
You are the manager of a project to improve a billing process at your firm. The table below contains the data you will need to conduct a cost analysis of the project. Indirect costs are $1,800 per week, and penalty costs are $800 per week after week 12. Activity A BCDEF Immediate Predecessor(s) - A B B, C Normal Time (weeks) Crash Time (weeks) 4 1 3 1 3 6 6 5 1 6 7 Normal Cost Crash Cost ($) ($) 5,000 8,500 7,500 9,500 4,000 4,000 6,500 12,500 3,500 7,000 4,000 7,000 a. What is the minimum-cost schedule for this project? The minimum-cost schedule is weeks. (Enter your response as an integer.) b. What is the difference in total project costs between the earliest completion time of the project using "normal" times and the minimum-cost schedule you derived in part (a)? The minimum-cost schedule costs $ less than using the "normal" times. (Enter your response as an integer.)
Project Typhoon has a net present value of $10,000 and a profitability index of 1.01. Project Cyclone has a net present value of $10,000 and a profitability index of 1.10. Project SurfsUp has a net present value of $10,000 and a profitability index of 1.05. If only one project could be undertaken, what should the oraganiztion select?
5. Discuss the pros and cons of the checklist versus the weighted factor method of selecting projects 6. After the strategic management process, each functional area develops a wish-list of projects. For each project they create a document that is used as input into the Project Selection process. What is the name of that document? Name 5 items included in that document
The ABC Manufacturing Company has set up a weighted scoring matrix for evaluating some potential projects. Following are five projects under consideration. Using the scoring matrix below which project would you rate highest? Lowest? If the weight for “Sponsor Support” is changed from 2.0 to 5.0, will the project selection change? What are the three highest-weighted project scores with this new weight? Why is it important that the weights mirror critical strategic factors? Project Screening Matrix Criteria Weight Project 1 Project 2 Project 3 Project 4 Project 5 Sponsor Support 2 9 3 6 1 3 Strategic Alliance 5 5 7 8 0 10 Urgency 4 2 2 2 5 10 Fills a market gap 3 0 0 3 10 1 Sales 3 2 5 6 6 8 Competition 1 5 1 8 9 0
Use a weighted scoring model to help the committee choose between two projects: Booking System Upgrade and Cabin Crew Retraining. The relative weights for each criterion and the assessment of each project for these criteria are shown in the following table. Which project would you choose andwhy?
Outline of the Project Introduction Covers the ff: industry analysis, company profile, problem/s identified. Analysis Conclusion and RecommendationOur Business is Selling Motor Components

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS