(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( Hi , I need help wi
ID: 345129 • Letter: #
Question
(((((((((((((((((((((((((((((((((((((((((((((((((((((((((((( Hi, I need help with a question in my project management course. I have completed a weighted score model, and I need help with writing a paragraph regarding the model. An image of my model and its question are listed below. If answered properly, positive feedback/ratings will be given. Be sure to respond to the question in a very clear and concise manner.
- An Image of my Weighted Score Model:
- The Question/s Regarding my Model:
Determine which project to select. Interpret the weighted scoring results in your own words (1-2 paragraphs).
Paste Format Painter Blu· · Clipboard Font Alignme T16 Criteria 2 Cost 3 Strategic value 4 Risk 5 Financials Weight Project 1 Project 2Project 3 15% 70 80 20% 25% 50 70 9 10 Weighted Project Scores 100% 71 78.75 80 Weighted Score by Project 12 13 15 16 17 18 19 20 21 Project 3 Project 2 Project 1 24 25 26 65 70 75 80 85 Sheet Sheet2 Sheet3Explanation / Answer
Answer:
Weighted Score Method : Weigthed score method is a tool for selecting projects which follows a systematic process. The baseline of this method is based on the what are the criterias are important and how much importance are being given to that criteria.
Interpretation: After the weightage has been given based on the importance of criteria, then have to assign the score from 0-100 to each criteria for each project. Upon multiplying the Weight & score of each project and adding the resulting values will give us the weighted score of each project. The project having the highest weighted score will be selected.
In our case, we have four criterias and the importance given to it are as below,
On comparing the weighted scores of three projects, Project 3 has the highest weighted score. Hence Project 3 is selected.
Thanks.
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