Project Selection Using Scoring Model: Assessing Weighted Values - Essay Sample

Introduction

The scoring model is another type of project selection method. The process commences from establishing a committee that present relevant criteria which are applicable in selecting a new project. The final project to be undertaken from all the provided options by the committee members is selected based on underlying importance along with the priorities of all the listed projects. After assessing the weighted values of all the suggestions, the committee, therefore, selects the option that scores the highest value as compared to others. The procedure that leads to the final selection is exceptionally based on merit hence making the model an important scheduling and budgeting framework.

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Eric is scheduling the tasks in designing a new bridge. Discuss the most efficient way that he can make the schedule for the project.

In scheduling the task of designing a new bridge, the most efficient way that Eric will apply in making the schedule is the particular judgment technique. The process will lead to the formulation of a unique design since it will entirely depend on Eric’s competence. The technique is considered as the best approach since it will turn out in favor of the whole project since the decision and options will be solely provided. This ensures that a particular design is followed to the later since the final project will not have multiple external influences with varying views regarding the design. The technique will also facilitate faster completion of the project since it preserves time hence making it the most efficient.

As Eric is beginning his work on the bridge project, he knows he needs to prepare the budget. Help him prepare his budget and a response.

In the budget, Eric would limit the chosen scoring model into three steps and draw the budget from the categories. The groupings will entail a cost, size, impact, and margin. The score of the individual categories will, therefore, be calculated through direct multiplication of the frequency of the responses obtained with the relative priorities. The final answer from the math will serve as the weighted score for the requirement. The resulting response after achieving the weighted average for the project will be used in the selection of the one with the highest score of all the options provided by the committee.

A scoring model is a benefit measurement method. Compare and contrast benefit measurement methods and constrained optimization methods.

Both the benefit measurement methods alongside the constrained optimization methods prove more useful since, in the final processes, one must always keep the committee updated that 0 is the final favorable value (Awasthi & Omrani, 2019). In contrast, five remain the highest favorable digit (Awasthi & Omrani, 2019). Both the methods, therefore, follow a common numeric priority type that, in turn, ensures that none of the team members misinterprets the design strategies laid.

On the other hand, measurement methods may sometimes apply distinct values as the constrained optimization method may operate by following only sample values that have particular descriptions to comprehend the values used in the final scoring model.

Discuss the approach or method you would take to scheduling tasks for a project proposal for a new shopping plaza.

In scheduling tasks for a new shopping plaza proposal, I would apply the scheduling method in the whole project formalities. The method will begin by listing all the relevant activities that new shopping plaza will entail the deliverables in different stages as well as the underlying milestones within the entire project. The method would describe the whole process from the planned commencement stage to the finish date and identify the projected duration along with the resources which are necessary for every stage and each activity. Generally, an effective scheduling method is an ideal component for successful project management.

Reference

Awasthi, A., & Omrani, H. (2019). A goal-oriented approach based on a fuzzy axiomatic design for sustainable mobility project selection. International Journal of Systems Science: Operations & Logistics, 6(1), 86-98. https://orsociety.tandfonline.com/doi/abs/10.1080/23302674.2018.1435834