Both methods have their advantages and limitations. The divergence is mainly caused by the fact that the methods used in the case were insufficient to decide on the attractiveness of the projects. Moreover, as described in the chapter concerning the situation of pharmaceutical companies, more specific subcriteria could be used to make the scoring model more accurate.
Finally, Nova Western should develop an enhanced screening model to take into account both methods and some additional criteria.
Table 1 provides the following information about the strengths and weaknesses of both non-financial and financial methods.
Table 1. Strengths and Weaknesses of screening methods Method | Strengths | Weaknesses | Scoring model …show more content…
Project Selection Methods. (2012). Retrieved December 6, 2012 from Tutorialspoint: www.tutorialspoint.com/management_concepts/project_selection_method.html
This is a small academic article, which talks about the theoretical part of the project selection methods.
Pinto, J. K. (2010). Project Management: Achieving Competitive Advantage. Prentice Hall.
Chapter 3 "Project Selection and