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Summary M1A1 Project Selection Management Skills Project Selection & Management Skills IT390: PROJECT MANAGEMENT JUN Analysis of Project Selection Methods Net Present Value Analysis One advantage of NPV is that it takes into account the conc$7.49
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Summary M1A1 Project Selection Management Skills Project Selection & Management Skills IT390: PROJECT MANAGEMENT JUN Analysis of Project Selection Methods Net Present Value Analysis One advantage of NPV is that it takes into account the conc
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M1A1 Project Selection Management Skills Project Selection & Management Skills IT390: PROJECT MANAGEMENT JUN2021 Analysis of Project Selection Methods Net Present Value Analysis One advantage of NPV is that it takes into account the concept that future money is worth less than money today...
m1a1 project selection management skills project selection amp management skills it390 project management jun2021 30076440 analysis of project selection methods net present value analysis
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Project Selection & Management Skills
IT390: PROJECT MANAGEMENT JUN2021 30076440
Analysis of Project Selection Methods
Net Present Value Analysis
One advantage of NPV is that it takes into account the concept that future money is worth
less than money today. Of course, there are drawbacks to NPV, one of which is that it requires
some guesswork in terms of capital costs. Additionally, the NPV method is not the most effective
for comparing projects of varied sizes because its outputs are mostly monetary in nature
(Schwalbe, 2015).
Payback Analysis
The simplicity of payback analysis is widely valued by smaller firms that demand a
shorter payback period to lower their risk of loss. Its downside is that it fails to take into account
cash inflows that come after the payback period, making it impossible to compare the
profitability of one project to another (Schwalbe, 2015).
Weighted Scoring Model
The WS model has the advantage of providing a visual depiction of project scores based
on many sets of criteria. The downside is that it is dependent on the relevancy of the chosen
criteria and the correctness of the weight assigned to them (Blumhorst, 2013). This is the model I
used in my selection process because none of the others were appropriate for my project.
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