Problem #1

a) Create a weighted scoring model to determine which of three projects should be selected to be worked on. Below are the details for the project weights and scores.

Project Weight Criteria & Weights

• Cost (C) - 15%
• Strategic Value (SV) - 40%
• Risk (R) - 20%
• Financials (F) - 25%

Individual Project Weight Values

• Project 1: C=90, SV=70, R=85, F=50
• Project 2: C=75, SV=80, R=90, F=70
• Project 3: C=80, SV=80, R=80, F=80

Use the following Excel template that is posted below to enter your data and graph the results:. Note - you need to enter data for criteria names, criteria weights, and project scores. You will also need to enter formulas to calculate the weighted scores. The graph will dynamically create based on your data.

1. Based upon the data, which project should be worked on? Why, be specific?
2. Why might an organization decide to work on one of the other two projects instead? Be specific.

b.) A weighted scoring model can be used in lots of situations, such as choosing a dinner location, a team-building exercise, or a commencement speaker, just to name a few.

Let us assume that you and four other people cannot decide on where to eat dinner tonight, and decide to use a weighted scoring model to decide.

1. Select five restaurants local to your area (Raising Canes, Chipotle, Blaze Pizza, Portillos, and Shake Shack)- these will be your projects in the model template
2. (For the sake of brevity) - Use the following criteria and weights

• Food quality - 20%
• Cost - 30%
• Service - 20%
• Convenience - 15%
• Atmosphere - 15%

1. Rate each restaurant (on a scale of 1 = poor to 5 = excellent) for each criterion. Add up the five scores. This will result in a rating from 5 to 25 for each restaurant for each criterion. Place these total scores in the template.
2. Which restaurant does the model show you should dine at this evening?

The Weighted Scoring Model is Below

Weighted Score by Project Weighted Score by Project