Reference no: EM13906334
Knowledge Areas of Project Management Exercises Using a Scoring Model
In the given scoring model table, determine the optimal project using the criterion weighting values. Calculate the missing scores for the given projects and then answer the following questions related to the scoring system. Note: The lower the number, the better.
Which project seems to have the highest development risk?
Which project would make it to the market the quickest?
Why would a project be concerned about the time it takes to get to the market?
All of the projects have an importance weight of one on cost. Why do you think this is the case?
|
Project
|
Criteria
|
Importance Weight
|
Score
|
Weighted Score
|
|
Project 1
|
|
|
|
|
|
|
Cost
|
1
|
3
|
3
|
|
|
Profit Potential
|
1
|
2
|
A
|
|
|
Development Risk
|
3
|
1
|
3
|
|
|
Time to Market
|
2
|
B
|
6
|
|
|
Total Score
|
|
|
14
|
|
Project 2
|
|
|
|
|
|
|
Cost
|
1
|
1
|
D
|
|
|
Profit Potential
|
1
|
C
|
2
|
|
|
Development Risk
|
3
|
3
|
9
|
|
|
Time to Market
|
2
|
1
|
1
|
|
|
Total Score
|
|
|
E
|
|
Project 3
|
|
|
|
|
|
|
Cost
|
1
|
G
|
3
|
|
|
Profit Potential
|
1
|
3
|
3
|
|
|
Development Risk
|
3
|
1
|
F
|
|
|
Time to Market
|
2
|
3
|
6
|
|
|
Total Score
|
|
|
15
|
Evaluation Criteria: The Exercise rubric will be used to evaluate this assessment. In addition to the rubric, you will be evaluated on the following points:
Did you correctly determine the missing scores on the chart?
Did you answer the questions regarding the weighting system correctly?
Did you think of a reason why all of the projects had an importance weight of one on cost to be selected?