A planning committee is attempting to decide on a venue for an upcoming week-long sales meeting. The locations are similar in price, but each offers different strengths such as on-site entertainment, weather, restaurants within walking distance, and hotel amenities. The best method for project assessment is most likely:
A) Factor rating
B) Financial analysis
C) Pareto Priority Index
D) Real options and decisions trees
E) Fishbone diagram

Question

A planning committee is attempting to decide on a venue for an upcoming week-long sales meeting. The locations are similar in price, but each offers different strengths such as on-site entertainment, weather, restaurants within walking distance, and hotel amenities. The best method for project assessment is most likely: 
A) Factor rating
B) Financial analysis
C) Pareto Priority Index
D) Real options and decisions trees
E) Fishbone diagram

Quizplus · Accepted Answer

Factor rating is the best method for project assessment in this scenario because it allows the committee to evaluate each venue based on multiple criteria (such as entertainment, weather, restaurants, and amenities) and assign weights to these factors according to their importance. This method helps in making a comprehensive and comparative analysis of the options.

A Planning Committee Is Attempting to Decide on a Venue