Problem 3 G. Wilder Industries uses a weighted scoring matrix to evaluate all potential projects. They use four criteria in their project evaluation process as shown in the chart below. They assign a value of 1 thru 10 to each criteria based on the best information and projections they have about each potential project. They also place weighting scale on each of the criteria that they use in the project selection process. The company has 4 new projects under consideration:
|Criteria/Weight||Ease of use/3||15% Min. ROI/4||Recyclable/2||Expected Life/1|
Your job is to help the G. Wilder Industries figure out which project they should pursue based on this scoring model. Rank the projects from best to worst under the above scenario. In addition, if the weight for Recyclable was changed from 2 to 5 and the weight for Expected Life was changed from 1 to 3 how would the outcome change? Rank the four projects (best to worst) under this new scenario. Discuss the benefits and shortcomings associated with the weighted model project selection process.