22 Jul Activity I: Three new-product ideas have been suggested. These ideas have been rated as shown in the Table be
Activity I: Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below Product* CriteriaABCWeight (%)Development costPFVG10Sales prospectsVGEG15ProducibilityPFG10Competitive advantageEVGF15Technical riskPFVG20Patent protectionFFVG10Compatibility with strategyVGFF20 100* P = poor, F = fair, G = good, VG = very good, E = excellent
- Using an equal point spread for all five ratings (i.e., P = 1 , F = 2 , G = 3 , VG = 4 , E = 5 P=1, F=2, G=3, VG=4, E=5), determine a weighted score for each product idea. What is the ranking of the three products?
- Rank the criteria, compute the rank-sum weights, and determine the score for each alternative. Do the same using the rank reciprocal weights.
- What are some of the advantages and disadvantages of this method of product selection?.
Activity II: Using MAUT and the AHP, perform an analysis to select a graduate program. Explain your assumptions and indicate which technique you believe is most appropriate for this application.
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