As someone who has taken a project management course using this text and understands the need to select projects using a variety of factors, you have finally convinced your organization's steering committee to use a WSM to select its projects. The steering committee has decided to use the following criteria for the decision on the four projects from question 3: NPV, ROI, risk, strategic plan alignment, competition, and resource availability. The relative weights are 25 percent, 15 percent, 15 percent, 20 percent, 15 percent, and 10 percent. Risk for the four projects was determined to be Project 1, very high; Project 2, medium; Project 3, medium; and Project 4, low. Strategic plan alignment was determined to be Project 1, high; Project 2, high; Project 3, medium; and Project 4, medium. Need based on competition was determined to be Project 1, low; Project 2, low; Project 3, high; and Project 4, very high. Resource availability was determined to be Project 1, good; Project 2, good; Project 3, poor; and Project 4, poor.
a. Use the information above and from question 3 to build a WSM, using a spreadsheet program such as Microsoft Excel. Make up your own scale to rate each project.
b. Graphically depict the final score for each project, using a bar chart.
c. If you can select only one project, which one should it be?
d. Does your choice change if the relative weights change to 10 percent, 10 percent, 30 percent, 30 percent, 10 percent, and 10 percent?