Weighted Ranking Essay

Submitted By PriyaJohnson

Words: 294

Pages: 2

Open Document

Weighted Ranking
Priya Johnson
Franklin University
BSAD320-E3WW (W15)
02/01/2015

Cost

(.2)
Ease
(.1)
Beneficial to Company
(.3)
Will help high turnover (.4)
Total Score
Rank
Increase Pay
.6
.9
1.5
3.2
6.2
3
Hiring More Employees

.2

.7

3

4

7.9

1
Better Work Environment

1.6

1

2.4

2

7.0

2
More Training

.8

.8

2.4

2

6.0

4

I chose the following criteria for the matrix. The cost of the alternative, the easiness of the plan, the benefits to the company and if the alternative will help with the turnover problem. As stated in the beginning of the problem, the high turnover was the biggest issue thus giving it the highest percentage in the criteria. The next highest criteria was the benefits to the company. If a decision is being made than it needs to have a great benefit to the company. We also need to consider the easiness of the change that will need to be made. By utilizing the weighted matrix method, I was able to choose the alternative of hiring more employees. This alternative scored the highest in the weighted matrix and I also believe that this would be the best course of action because of the problem of high turnover. The reason for the high turnover as discovered from the why ask why again was that there is not enough employees to work the weekend shift thus making one employee having to work every single weekend. I believe that by hiring more employees and changing the shifts of the current employees makes

Prioritizing Projects at Dd Williamson Essay

a four step method to rate each project: 1) Establish criteria for prioritizing projects. 2) Weigh each criterion. 3) Refine the list of projects. 4) Rate each project on each criterion and total ratings. To give team members control over the ranking of projects, each member was asked to write three different criteria on three Post-it Notes. These Post-it Notes were divided into similar item groups and each group was named. This process established the important criteria for selection. The criteria…

Words 1034 - Pages 5

Decision Theory Essay

Introduction to Decision Making Methods János Fülöp Laboratory of Operations Research and Decision Systems, Computer and Automation Institute, Hungarian Academy of Sciences 1. Decision Making Process “Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker. Making a decision implies that there are alternative choices to be considered, and in such a case we want not only to identify as many of these alternatives as possible but…

Words 7173 - Pages 29

hrd t Essay

IIBM Institute of Business Management Examination Paper MM.100 Human Resource Development & Training Section A: Objective Type & Short Questions (30 marks) Part One: Multiple choices: 1. HRD is the process of helping people to acquire________ Answer: c. Competencies 2. Techniques of human resource development are also called_______ Answer: d. All of above 3. In India HRD began only in______ Answer: b. 1980s 4. BARS Stand for______ Answer: a. Behaviorally Anchored Rating Scale 5. Levels of evaluations…

Words 2278 - Pages 10

week M06 Essay

an unbalanced problem. 6. Goal Ranking What does it mean to rank goals in goal programming? How does this affect the problem's solution? The concept of ranking goals within a goal programming problem allows for specifying which goad hold the highest importance. Without goal ranking, all goals would be considered equally important and the model would attempt to achieve all goals equally. By ranking goals with priority levels, the problem will treat the highest ranking goal as infinitely more important…

Words 624 - Pages 3

CapBud 612 Analysis Group 3 Essay

budgeting process are also defined. Risk analysis based on NPV (Net Present Value) is performed on the salvage values before and after sales tax values along with the various ranges in sales. Key Terms: NPV, NPV Profile, NPV, IRR, multiple IRRs, ranking conflict of NPV vs. IRR, payback period, profitability index, discount rate, cost of capital concept, cash flow analysis, cash flow timeline, conventional cash flow stream, non-conventional cash flow stream, sunk cost, opportunity cost, independent…

Words 1001 - Pages 5

Corporate Finance Case Study Essay

the projects’ NPVs. The NPV of each project has been calculated by discounting the cash flows at the 8% before-tax cost of debt. This is incorrect. Since the company has debt, preferred stock and common stock in its capital structure the weighted average cost of capital must be calculated and used to discount the projects’ cash flows. The weight of each component of the target capital structure (based on market values of outstanding securities)…

Words 1422 - Pages 6

Job Evaluation Schemes Essay

Factors/Explanation of a Job Evaluation Scheme: A job evaluation scheme is “a method to determine the value of each job in relation to all jobs within the organization.” A job evaluation process is useful because sometimes job titles can be misleading- either unclear or unspecific- and in large organizations it’s impossible for those in HR to know each job in detail. The use of job evaluation techniques depends on individual circumstances. Job evaluation is often used when: establishing…

Words 2205 - Pages 9

Meritocracy

Because people can be talented in diverse aspects, it is unrealistic to design tests that can be so exhaustive that all people's talents receive fair measurements. Even assuming that there are tests that provide weighted judgements, meritocracy is hard to achieve given that people who do best in tests are not necessarily the most talented. For example, a poor person X may be more intelligent and diligent than a rich person Y. However, because of his poverty and therefore…

Words 591 - Pages 3

Essay on Long-Term Financial Decisions

preferred stock, common stock, and retained earnings are reviewed. The relationship between the cost of capital and both the firm's financing activities and capital investment decisions is explored. In the framework of a target capital structure, the weighted average cost of capital is then applied to capital investment decisions.…

Words 4674 - Pages 19

Essay Project Management and Network Diagram

PRGM2010 Final Project Your Final Project for this course (to be performed in teams) is to produce a partial Project Plan for a potential real-world technical project. Note that several parts of a real project plan (the quality assurance plan, the change control protocol, the reporting plan, etc.) will not be included in this assignment because they will not have been covered before the assignment is due. One copy of this project plan must be delivered for the entire team at the start of…

Words 5964 - Pages 24