Question

write the characteristics of projects method. what are it's advantages and limitations? for 500 word

Answer 1

We know that the performance of the organization in totally depends on the working capabilities of employees. So choosing the right people for the right position at the right time is the most important decision and this decision is directly affect the performance of our organization. So organization always tries to improve their tools and techniques by which they hire employees for the organization. In a same way when we choose any project we think about the risk and the advantages associated with it. If the organization chooses the wrong project without any analysis then they can face the trouble and loss but if the organization chooses the right project then they can make a profit from that project. So it is necessary to analyze any project before the selection. We also use some techniques to analyze and predict the affect of the project on the organization. One of the models to choose the project is scoring model. Here are the following advantages of using scoring model in project selection-no use. Moreover, it is restricted to the organisation only.a.Helps to predict profitability from project- It helps to analyze the profitability from the project. Scoring model has hundreds of processes by which we can analyze the profitability from a project. So it predicts that how much we can earn from project if we take it to complete.

b.Make decision more consistent- It is another big advantage of scoring model. We know that scoring model have series of techniques which is applied again and again after a specific time and after the application of these techniques we can monitor the condition of the project. We can analyze from scoring technique that can we make profit from the project or will face loss from the project..Quality reporting- The scoring model has the different way of reporting. We have know the in a project we have number of activities and we have to monitor each and every activity. Scoring model monitor these activities and gives a rating and on behalf of this rating we can analyze the performance of the project. So it helps to give the quality reporting about the project status.