Project Portfolio Selection Kaycee Wilson is a manager for a company that is considering four projects for possible adoption. Two of the projects (A and C) are IT projects. Kaycee has estimated the cost per year (in $100K) for each project. These cost estimates are indicated in the following table shown below. The company can fund any project partly or in total; however, it cannot change the funding percentage once the project has been started (for example, if project A is funded at a 50 percent level, then this project costs $20 in the first year, $5 in the second year, and $10 in the third and fourth years). The value of each project to the company is indicated by the project score. If the project is only partially funded, the project score is scaled proportionately (for example, if project A is funded at a 50 percent level, the company gains 0.5 x 0.741 = 0.3705). Kaycee wants to select a project portfolio that maximizes the total score, subject to the budget constraints. In addition, top management has stated that funding on IT projects should not exceed 40 percent of total funding on projects over the next five years. Year 1 Year 2 Year 3 Year 4 Year 5 $20 $40 $65 $10 $36 $25 $30 Project A(IT) Project B Project C(IT) Project D Available funds $20 $30 $10 $20 $40 Project score 0.741 0.845 0.353 0.457 $120 $55 $60 a. Given the constraints, which projects should Kaycee recommend for funding? At what level? b. Assume that Kaycee has the choice of delaying some of the projects if all selected projects can be completed in five years. Should Kaycee recommend that any project(s) be delayed; and if so, which projects and how long