when you choose a proiect that he factory. You you choose she sudegic plan is focused on You are leading a committee deciding which capital improvement project to fund in the factory. You have been directed by corporate management that when you choose a project that you consider certain factors. The strategic plan is focused on improving productivity and quality, so the project you choose should focus on one of those areas. Management is willing to fund a project up to $1.5 million. There are three performance measures that will be used to select the project: payback period (lower is better), return on investment (higher is better), and impact index (higher is better). The committee decides to weight the performance measures: payback period - 4, retum on investment - 7, and impact index - 9. 3.0 Project Focus Cost ($) Payback (Years)ROI (%) Impact Index A Productivity 1,750,000 2.0 B Quality 800,000 C Quality Quality 1,600,000 1 600.000 1.5 D Productivity 950,000 2.0 E Capacity 500,000 F Productivity 1,500,000 3.5 01.5 1. What is the objective of this decision making process? (measure performance, choose a project, save cost, or make a strategic plan) 2. Use the formal decision making process and put the following activities (exact wording) in the boxes in order. - Adjust the coding. - Calculate the weighted score. - Remove ineligible projects. 1. What is the objective of this decision making process? (measure performance, choose a project, save cost, or make a strategic plan) 2. Use the formal decision making process and put the following activities (exact wording) in the boxes in order. -Adjust the coding. - Calculate the weighted score. - Remove ineligible projects. Step 1: Step 2: Step 3: 3. What project would your committee select? (simply answer an alphabet)