Assignment Instructions:
Complete all four exercises at the end of Chapter 2, beginning on page 46. Use the Project Selection and Prioritization Excel template located in the Course Project module to provide you with the results. Here are the exercises:
Exercise 1:
Using the template, complete the following scoring model. Be sure to change project and criteria names to match the figure below. Don’t forget that in order for the formulas to work, you need to include the proper weight in B5, D5, and F5 (10, 6, and 4).
Show all your work. Tell Which project you would pick first, second, third, and last. How confident are you in your choice?If you lack confidence regarding your choice, what would you prefer to do about it?
Exercise 2:
Using the template, complete the following scoring model. Be sure to change project and criteria names to match the figure below. Don’t forget that in order for the formulas to work, you need to include the proper weight in B5, D5, and F5 (10, 7, and 3).
Show all your work. Tell Which project you would pick first, second, third, and last. How confident are you in your choice?If you lack confidence regarding your choice, what would you prefer to do about it?
Exercise 3:
Pretend you are on the leadership team for a pharmaceutical company that is in a difficult financial situation due to patents that have died on two of your most profitable drugs. Brainstorm a list of criteria by which you would select and prioritize projects. Weight these criteria.
Exercise 4:
Pretend you are on the leadership team of a manufacturing company that is currently challenged by low-cost competition. Brainstorm a list of criteria by which you would select and prioritize projects. Weight these criteria.
For those without the textbook (or those wanting a little more information to work with)
Here are some web resources that should help:
Chapter dedicated to project selection
(Links to an external site.)
Links to an external site.
Definition of weighted scoring
(Links to an external site.)
Links to an external site.
Good article on choosing a priority selection system
(Links to an external site.)
Links to an external site.
Long video, but a really good look at various methods for selecting project:
Link
(Links to an external site.)
Links to an external site.
Assignment Submission Instructions:
For Exercises 3 and 4, DO NOT COPY AND PASTE criteria you find from other sources, but rather carefully evaluate criteria for appropriateness.
