Assignment 2 Project Selection Model for a Marketing Survey Consulting Company

Assignment Description

In this assignment, you will act as a consultant for a marketing survey consulting company that is facing challenges in completing projects as committed. Your task is to develop a project selection model that will help the company in choosing projects they are confident of completing successfully within the given timeframe. The model should consider various factors to ensure project feasibility and reduce the occurrence of embarrassing situations.

Instructions

Identify Key Project Selection Criteria

1. Research and familiarize yourself with the project selection process and best practices in the consulting industry.
2. Identify and define the key criteria that should be considered when selecting projects for the consulting company.
3. Examples of criteria may include project scope, resource availability, expertise required, client requirements, and project timeline.

Define Weightage and Scoring System

1. Assign a weightage to each selection criterion based on its relative importance to the company's success and client satisfaction.
2. Develop a scoring system or scale for each criterion to assess the feasibility and potential risks associated with the projects.
3. Ensure that the weightage and scoring system align with the company's goals and objectives.

Evaluate Project Criteria

1. Apply the defined criteria and scoring system to evaluate a set of sample projects.
2. Use hypothetical or real-world examples to assess the projects based on their alignment with the company's capabilities and resources.
3. Score each project on each criterion and calculate an overall score for each project.

Establish Thresholds and Acceptance Criteria

1. Determine the minimum acceptable score or threshold for each criterion and the overall project score.
2. Specify the criteria that a project must meet or exceed in order to be considered for acceptance by the company.
3. Consider setting different thresholds based on the company's capacity and risk tolerance.

Develop the Project Selection Model

1. Organize the identified criteria, weightage, scoring system, and acceptance criteria into a project selection model.
2. Clearly present the model in a structured format, such as a table or matrix, for ease of understanding and application.
3. Provide a clear explanation of the model, including how the criteria are weighted and scored, and how the overall project score is calculated.

Discuss Implementation and Benefits

1. Discuss the implementation process of the project selection model within the consulting company.
2. Highlight the benefits and advantages of using this model, such as improved project success rate, better resource allocation, and enhanced client satisfaction.
3. Consider potential challenges or limitations of the model and propose strategies to address them.

Reflection and Recommendations

1. Reflect on the importance of project selection in the consulting industry and its impact on the company's reputation and profitability.
2. Provide recommendations for continuous improvement of the project selection model based on lessons learned and industry best practices.

Note: Your assignment will be evaluated based on the following criteria:

1. Identification and definition of key project selection criteria
2. Development of a well-structured and comprehensive project selection model
3. Accuracy and relevance of the weightage, scoring system, and acceptance criteria
4. Application and evaluation of sample projects using the model
5. Clarity and coherence of the model presentation
6. Analysis and discussion of the implementation process and benefits
7. Thoughtful reflection and recommendations for improvement
8. Structure, organization, and clarity of the assignment
9. Proper citation and referencing