Homework SourseReview the following problem by discussing the process and t
Review the following problem by discussing the process and the tool you will use to complete the analysis. Work through the scenario provided below to determine a solution.
Discuss the four criteria that should be considered when selecting a solution: risk, economy, timing, and resources. How might they apply to your solution?
Using a multi-voting process tool, address the following problem:
Ten projects are being considered by the QM team. Based on team member preferences (below), if a single vote is held, Project D will be selected. The chair wants to consider team member preferences beyond simply their first choices. Use a multi-voting process and assign three points to each member’s first choice, two points to the second, and one point to the third. After the first vote, options that receive fewer than three points should be eliminated and the remaining options re-voted. In subsequent rounds, two points will be given to the first choice and one point to the second. Continue to eliminate low vote-tallying options until all but two options have been eliminated. On the final vote, each team member will get a single vote worth one point. Which option will be selected?
| Jacob | D, I, B, C, A, F, E, J, H, G |
| Isabella | A, C, E, F, G, J, D, H, I, B |
| Ethan | H, G, E, D, B, I, J, A, C, F |
| Emma | D, I, F, A, E, G, B, C, H, J |
| Olivia | B, G, A, J, H, C, F, E, I, D |
Solution
The four criteria’s are required to be considered like risk, economy, timing, and resources. These criteria’s are the factors which are required to be considered for the feasibility of the project to conduct for business and to maintain a balance in leading the project. All the factors are required to be settled before the project is likely to be conducted.
The risk factor will highlight the threat to the organizational decision-making process; it will make the process stronger. The economy is the expense and the profit which the company is gaining in its organization. Timing is the main important part of any project because it helps the company to complete the work within the schedule so to get the opportunity to deliver the product. Finally, the resources are the prime aspect which comes from the supplier’s side in form of raw materials it helps the company to gain the profit by fulfilling their clients demand.
The voting system has been implemented in taking up the best selection of the project as per the vote, as it is mentioned that Project D is going to be selected to the last option is the right fit for this case.
The option is: Olivia B, G, A, J, H, C, F, E, I, D
