If you have two different potential projects at a company for expansion what benefits and costs would you consider in deciding which is better for the company, and how would information technology affect this decision?

If you have two different potential projects at a company for expansion what benefits and costs would you consider in deciding which is better for the company, and how would information technology affect this decision?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

The decision tree structure suggests that there are three viable options for a project. What are these options? What, in your opinion, is the solution to data collecting and decision analysis problems.
If I am launching a new product or opening a new location, what are some specific examples how these areas are related to the decision that the organization must make when deciding whether to move forward with this project.
Do the engineers face the decision problem involving the selection of the best course of action when there are several ways to meet a project's requirements?
Imagine you are the CEO of a company. While taking the elevator, three individuals pitch their elevator ideas for four new products (each has an idea for a different new product). All four projects sound good. Would you consider all four, or would you select from among them? Explain why you make this decision. How would you rank the projects in order of your preference before going to the Board of Directors and seeking approval to cover the projects?
What are three choices that might be applied to a project based on a decision tree structure? What do you think the method should be for gathering data and doing the decision analysis?
You have a choice to manage one of three projects. You are familiar with the first project’s sponsor, but the project customer has been known to be difficult to work with. The second project is a complex, high-profile project that has a strong, active project customer who doubles as the project sponsor. The third project is one that is not as complex as the second project, but you have a good working relationship with the customer. You do not, however, have any insight about the project sponsor. Which of the projects would you choose to manage and why? Suppose your manager asks you to manage a project in which you are not interested. How will you handle the situation?
As with any industry, health care has its own set of risks, which must be addressed by the healthcare administrator. There are risks associated with project management. Select two risks that you perceive to be the greatest threat to successful project completion. Provide a rationale for your selection and identify the ways in which a healthcare administrator might sidestep some of these issues. Identify at least two other roles within the organization that might help or hinder the healthcare administrator in overcoming these obstacles.
Some conflict is good for a project team, whereas other types of conflict are bad. Which type of conflict causes the greatest problems in project teams? Why?
Increasing the project's scope or adding unnecessary features are both undesirable outcomes. Help your reader follow your reasoning by outlining the differences between the two ideas. Please elaborate on your reasoning for assuming that the same issue underlies both of these complaints. If these two things happened while working on this project, what type of disaster might it cause?
Project management is governed by an enormity of decision making that is influenced by ethics, professionalism and politics. Decisions require intense thought and considerations before execution as they involve people, resources and the environment. Ethics is the discipline of how to do it best. It is essential that project leaders govern the techniques used in decision making and general leadership with the appropriate set of ethical principles and values. With reference to the extract above, elaborate on the ethical challenges relating to projects and discuss way in which project managers/leaders can respond to such challenges.
How do you think the concept of strategic alignment and the three articles related to that subject would be relevant to the question of choosing a project as the subject for project planning and execution
It is essential for project managers to have a solid understanding of the four strategies available to them for mitigating risk.