Question

c. A pharmaceutical company have 4 pipeline products in development and have ranked each under 4 relevant headings shown below. Given the following scoring system (Excellent 3, Moderate 2, Poor I) use the weighted scoring method to ascertain the most viable product for further development (6Marks) Product Alpha Beta Gamma Market Potential Excellent moderate Poor Moderate Development Success excellent excellent Moderate excellent Ease of ProductionCompetition Impact poor excellent Moderate poar excellent excellent Moderate poor

This is project planing and control question,please answer it fully.

Answer 1

For project planning control one must know that for the given four performing levels i.e., Market potential, Development Success, Ease of Production and Competition Impact the preferable order comes as

1 Ease of Production 2 Development Success 3 Market potential 4 Competition Impact

We prefer this order as it follows from the beginning of production , to the development of product and its market potential so that we can evaluate our product.

Now using the weighted scoring we have a table that will be looking like:-

So with the weighted scoring we will have our products with score as follows:-

So the most viable product will be with the most score, i.e., Beta

and the if any order regarding to viable products is required then it will be

Beta , Alpha , Gamma and Omega.

Gamma will come before Omega since its ease of production score is better than Omega.