The Custom Bike Company has set up a weighted scoring matrix for evaluation of p
ID: 412925 • Letter: T
Question
The Custom Bike Company has set up a weighted scoring matrix for evaluation of potential projects. Below are five projects under consideration.
1. Using the scoring matrix above, what score would you give to each project?
2. Which project would you choose first?
3. If the weight for “Strong Sponsor” is changed from 2 to 5, what score would you give to each project?
4. Now which project would you choose first?
5. Why is it important that the weights mirror critical strategic factors?
Criteria Strong sponsor Supports business strategy Urgency 10% of sales from new products Competition Fill market gap Weight 2 2 2 2 3 1 Project 1 4 8 0 7 6 0 Project 2 4 9 6 8 8 1 Project 3 3 10 5 7 1 2 Project 4 5 10 2 7 0 2 Project 5 10 9 5 7 1 10Explanation / Answer
Answer to question 1 :
Score for each project = Weight for strong sponsor x Value for strong sponsor + weight for Support business strategy x Value for support business strategy + weight for urgency x value for Urgency + Weight for 10% sales from new products x Value for 10% sales from new products + Weight for Competition x Value for Competition + Weight for Fill Market Gap x Value for fill market gap
Accordingly weighted score for each project have been calculated and presented in below table .
Criteria
Strong sponsor
Supports business strategy
Urgency
10% sales from new products
Competition
Fill market gap
Weighted score
Weight
2
2
2
2
3
1
Project 1
4
8
0
7
6
0
56
Project 2
4
9
6
8
8
1
79
Project 3
3
10
5
7
1
2
55
Project 4
5
10
2
7
0
2
50
Project 5
10
9
5
7
1
10
75
Thus scores are :
Project 1 = 56, Project 2 = 79 , Project 3 = 55 , Project 4 = 50 and Project 5 = 75
Answer to question 2 :
We will first choose the project which has the highest score which in this case is Project 2 with score of 79
WE WOULD CHOOSE PROJECT 2 FIRST
Answer to question 3 :
The revised table with weight for Strong Sponsor changed from 2 to 5 as follows :
Criteria
Strong sponsor
Supports business strategy
Urgency
10% sales from new products
Competition
Fill market gap
Weighted score
Weight
5
2
2
2
3
1
Project 1
4
8
0
7
6
0
68
Project 2
4
9
6
8
8
1
91
Project 3
3
10
5
7
1
2
64
Project 4
5
10
2
7
0
2
65
Project 5
10
9
5
7
1
10
105
Scores for each project are :
Project 1 : 68 , Project 2 : 91 , Project 3 : 64 , Project 4 : 65 and Project 5 : 105
Answer to question 4:
Since Project 5 has the highest score of 105, we will choose Project 5 first
Answer to question 5:
Critical strategic factors for a project are those which creates sustainability and strength for the project in the long run. In other words, critical success factors are the specific strengths of a project. By assigning weights to each criteria, one is depicting the importance and strength of that criteria for the project. Higher the weights, more strength the project has with respect to the criteria which will act as critical success factor of the project going forward. Therefore, weights mirror critical strategic factors.
Criteria
Strong sponsor
Supports business strategy
Urgency
10% sales from new products
Competition
Fill market gap
Weighted score
Weight
2
2
2
2
3
1
Project 1
4
8
0
7
6
0
56
Project 2
4
9
6
8
8
1
79
Project 3
3
10
5
7
1
2
55
Project 4
5
10
2
7
0
2
50
Project 5
10
9
5
7
1
10
75
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