MGT 437 Week 1 DQ 1
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This 0 page Study Guide was uploaded by NUMBER1TUTOR Notetaker on Monday November 9, 2015. The Study Guide belongs to MKT421 at Phoenix College taught by in Fall 2015. Since its upload, it has received 50 views.
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Date Created: 11/09/15
Discussion Question 1 What are three project selection criteria What do you think is the most important information required to select a project How would you explain to your manager that a project that was important to his or her department is not good for the organization based on the selection criteria What are three project selection criteria According to Meredith amp Mantel J r 2006 firms use several criteria when choosing a project selection model Three of these criteria are Capability Flexibility and Cost 0 Capability The model should be sophisticated enough to deal with multiple time periods simulate various situations both internal and external to the project and optimize the decision 0 Flexibility The model should give valid results within the range of conditions that the firm might experience 0 Cost Datagathering and modeling costs should be low relative to the cost of the project and must surely be less than the potential benefits of the project What do you think is the most important information required to select a project The most important information required to select a project is purpose desired outcome costs and possible setbacks Identifying the overall purpose and desired outcome of a project projected costs and any possible negatives is necessary How would you explain to your manager that a project that was important to his or her department is not good for the organization based on the selection criteria To explain to a manager that a project that was important to his or her department is not good for the organization based on the selection criteria should be done by explaining the criteria and project selection process to the manager Meredith J R amp Mantel Jr S J 2006 Project Management a Managerial Approach 6th ed New York NY Wiley
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