Weighted Scoring Model PDF

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Weighted Scoring Model A weighted scoring model is a project management technique used for weighing certain decisions or criteria, such as prioritizing project actions, prioritizing the development of product features etc. To create a weighted scoring model, the following steps are applied: 1. Identify the criteria important to the decision process. 2. Assign a weight to each criterion based on its relative importance in the decision (ideally, so they all add up to 100%). 3. Assign numerical scores to each criterion for all of the options being considered. 4. Calculate the weighted scores by multiplying the weight for each criterion by its score and adding the resulting values.

List and define potential criteria 1. Has strong customer support: In project, customer is more engaged, more satisfied, perceives team to be working hard on their project. This was all important to customers to spend money on the project. Without customer support can cause a lot of problems in the final stages of a project so it’s important to consider the customer’s feedback and keep them updated throughout the project. Treat them like the very important customer that they are. 2. Has strong internal sponsor: The project sponsor needs to clearly see how the solution will be implemented, how the solution will address the stated problem, and the benefits to the project will realize as a result of implementing the solution. Without a project sponsor only to have the project go down in flames therefore, project needs a strong internal sponsor. 3. Difficulty in project implementation: Sometimes project faces many difficulties like poorly defining the goals and objectives, unrealistic deadlines, finding the right project management software, scope creep, insufficient team skills, miscommunication cause conflicts, risk management, challenges of teamwork, lack of accountability. Page 1

4. Sponsor rating: Project sponsor should have decision making authority over the in-scope project areas and gives rating to the project so sponsor rating is very important in the project. 5. Uses realistic level of technology: Project team member uses modern technology that has latest functionality. Also they are trying to make project more realistic in real life. The main motive is that project gain more profit. 6. Customer Satisfactions: Providing quality products and services to customers that reflects current trends and live up to expectations. 7. Availability of resources: Factors contributing to success would be the availability of resources and ensuring complete alignment with project objectives for profitable refunds. 8. Wide array of stakeholder Engagement: It is important for project to ensure that all the project stakeholders are on the same page and have a clear vision of the project. Invite stakeholders to the project so they can actively participate in shaping the project and providing feedback. Further, ensure that all internal and external stakeholders in the loop right from the project planning stage. Schedule regular meetings with all stakeholders and address their concerns as required. So wide range of stakeholders are important in the project. 9. Has low risk in meeting, scope, time and cost goals: A risk is any uncertain event or condition that might affect to the project. Risk in meeting, scope, time and cost may affect to the project or leading to fail.

Factors contributing to success would be the availability of resources and ensuring complete alignment with project objectives for profitable refunds.

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Factors contributing to success would be the availability of resources and ensuring complete alignment with project objectives for profitable refunds.

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