week 3

Chapter 5. Portfolio Management—Project Screening and Selection

Chapter 6. Multiple-Criteria Methods for Evaluation and Group Decision Making

Reflect on the assigned readings for the week. Respond to the following prompts: “What do I feel are the most important aspects of my learning in the chapters this week?” and “What about this learning was really worthy of my time and understanding?” Then explain how important it is in society or business.

Also, provide a graduate-level response to each of the following questions:

1. Identify a project that you are planning to pursue either at home or at work. List all of the components, decision points, and chance events. What is the measure of success for the project? Assuming that there is more than one measure, how can you reconcile them?

2. What experiences have you had with group decision making? What difficulties do you see arising when trying to perform a multiple-criteria analysis with many interested parties involved? How might these difficulties be overcome, or at least mitigated?

3. In conducting a group study using a multiple-criteria method, you reach a point at which two of the participants cannot agree on a particular response. What course of action would you take to placate the parties and avoid further delay?

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[Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].

 [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

Activity 3

Activity I: Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below

	Product*
Criteria	A	B	C	Weight (%)
Development cost	P	F	VG	10
Sales prospects	VG	E	G	15
Producibility	P	F	G	10
Competitive advantage	E	VG	F	15
Technical risk	P	F	VG	20
Patent protection	F	F	VG	10
Compatibility with strategy	VG	F	F	20
				100
* P = poor, F = fair, G = good, VG = very good, E = excellent

a. Using an equal point spread for all five ratings (i.e., P = 1 ,  F = 2 ,  G = 3 ,  VG = 4 ,  E = 5 P=1, F=2, G=3, VG=4, E=5), determine a weighted score for each product idea. What is the ranking of the three products?

b. Rank the criteria, compute the rank-sum weights, and determine the score for each alternative. Do the same using the rank reciprocal weights.

c. What are some of the advantages and disadvantages of this method of product selection?.

Activity II: Using MAUT and the AHP, perform an analysis to select a graduate program. Explain your assumptions and indicate which technique you believe is most appropriate for this application.

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not to be used. The paper should be at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing at least one outside scholarly or professional source related to project management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.