Mod 3 Selecting a project

Mod 3 Selecting a project

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University

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C Mcguire

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23 questions

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1.

FLASHCARD QUESTION

Front

Framework for Models

Back

A framework ensures models follow best practices, adapted from Souder (1973).

2.

FLASHCARD QUESTION

Front

Realistic Criteria

Back

Reflects the way the company does business and is appropriate for resources, capabilities, and environment.

3.

FLASHCARD QUESTION

Front

Capable Criteria

Back

Uses factors relevant to the company and covers all dimensions of a project.

4.

FLASHCARD QUESTION

Front

Example of Capable Model

Back

Net present value model evaluates a project’s future cash flows for long-term value perspective.

5.

FLASHCARD QUESTION

Front

Flexible

Back

The model should provide accurate measures across a reasonable range of conditions. Example: The model would allow for changing conditions where the cost of a new government regulation must be accommodated.

6.

FLASHCARD QUESTION

Front

Low cost

Back

The costs of gathering data and running the model should be low relative to the scale of the project. Example: A model that requires hiring a consultant may not be cost-effective for smaller projects.

7.

FLASHCARD QUESTION

Front

Comparable

Back

The model should be usable across a range of projects, allowing outcomes to be used to compare projects. Example: Using a profitability model for one project and a qualitative scoring model for another would be problematic, as it would not allow the decision maker to analyze the projects effectively.

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