Question

Financial The following table provides the financial analysis that can be used to calculate the payback for each communication alternative. The project team identified the benefits of the communication alternatives as an increase in membership and sponsorship revenue and predicted the revenue for each one. For example, the team feels that the personal touch of the In-person alternative will result in greater membership and sponsorship revenue sooner than the Webinar alternative. 40,000 Weblnat Live Video 40005 4000 3 Non-Financial Live Video CriteriaIn person Impact High impact to key Webinar All stakeholders can view All stakeholders will be stakeholders, but limited the webinar, potential to invited, but many will number of stakeholders reach many stakeholders not attend will be reached Some customization can be done for each video No customization Customize Can customize to audience and delivered by an executive in a local language Can be done with Need to hire contracts to May need some Skills technical support do the recording and editing Mammoth staff Exercise Requirements Complete a weighted scoring analysis of the three alternatives using the table below and make a recommendation. Remember, the team did not provide the weighting that is up to you. Criteria Weight In-Person Webinar Live Video Cost Customize Skills Purpose of Exercise Use weighted scoring which is valuable in supporting objective decision making used for project selection. Teamwork and developing skill in consensus-building to establish the importance of each criteria

Answer 1

Weighted scoring prioritization is a framework designed to help you decide how to prioritize features and other initiatives on your product roadmap. With this framework, initiatives are scored according to a set of common criteria on a cost-versus-benefits basis, and then ranked by their final scores.

The goal of the weighted scoring approach is to derive an objective, quantitative business value for each competing item on your list. You can then use those values to determine which items should be prioritized on your roadmap.

Scoring model is yet another method of project selection. In this method, you create a committee that lists the relevant criteria to select a project. The committee weighs the list according to the importance and priorities of each project under consideration. The committee then adds the weighted values and selects a project with highest score.

After you have taken responses for each requirement, you calculate the score of individual requirement by multiplying the number of responses with the priority. This is the weighted score for the requirement. Now that you have the weighted average for the projects, you can select the one that has the highest score.