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Scoring Model
Completion requirements
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A scoring model lists a number of desirable factors on a project selection pro-forma along with columns for Selected and Not Selected. The scoring model is also a combination of numeric and nonnumeric information made available by different sections within the project setup.
Tick sheet for scoring projects.
|
Factors |
Select |
Do Not Select |
Weighting |
|
Profit greater than 20% |
X |
|
|
|
Enter new market |
|
X |
|
|
Increase market share |
X |
|
|
|
New equipment required |
|
X |
|
|
Use equipment not being utilised |
X |
|
|
|
No increase in energy requirements |
X |
|
|
|
No new technical expertise required |
X |
|
|
|
Use underutilised workforce |
X |
|
|
|
Manage with existing personnel |
|
X |
|
|
No outside consultants required |
|
X |
|
|
No impact on workforce safety |
X |
|
|
|
No impact on environment issues |
|
X |
|
|
Payback period less than 2 years |
X |
|
|
|
Consistent with current business |
X |
|
|
|
Offer good customer service |
X |
|
|
|
TOTAL |
10 |
5 |
|
The importance for using a scoring model is to encourage objectivity in selecting a project. It is also important to make use of a wide range of selection criteria to cover the whole of the project; not only the financial ability thereof. To bring in a weighting per item is to make sure that there is no assumption that all items have the same importance, but to prioritise by importance to address all needs.
The importance of keeping the list short and function ensures that not too much management time is wasted by trivial factors. With the majority of factors structured by senior management ensures that they, the tick sheet, reflect the company goals and objectives.