Question

Product evaluation techniques used for selection

Answer 1

Selecting the right product to sustain in highly volatile market environment with the given limited available resources such as limited budget, time, and human resources is both critical and imperative. This paper is aimed to evaluate and establish the application intensity and most widely used selection method(s) in selecting products with reference to strategic planning and comparative methods of PPM as part of production planning and control. It presents the research findings along with a comprehensive view on selecting projects in the project portfolio perspective. This exploratory research study endeavors its evaluation based on the data analysis and concludes statistical analysis using cumulative weighed average and chi-square analysis techniques. The results reveal that the application intensity of product selection methods especially strategic planning method is moderate and furthermore it notifies that the inevitability of changing the product selection process in order to balance the financial and non-financial benefits to meet the strategic goals of the organizations.

Answer 2

Answer:

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