S

TOTAL WEIGHTED SCORE = 2 (CRITERION SCORE X CRITERION WEIGHT)

*SCALE: 10 = EXCELLENT; 1 = UNACCEPTABLE

FIGURE 11-7. Illustration of a scoring model. Source: William Souder, Project Selection and Economic Appraisal, p. 69.

• The current operating costs or the cost of operating in today's circumstances.

• Future period costs that are expected and can be planned for.

• Intangible costs that may be difficult to quantify. These costs are often omitted if quantification would contribute little to the decision-making process.

There must be careful documentation of all known constraints and assumptions that were made in developing the costs and the benefits. Unrealistic or unrecognized assumptions

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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