Homeworklib Q&A #1259 - In this exercise, please use the weighted criteria matrix

In this exercise, please use the weighted criteria matrix below and calculate each company's score and determine which company should win the project. For each criteria (design solution, financial capability, energy efficiency, management plan), write at least one sentence on the most important information you considered in making the decision for the criteria. For example, for the management plan you may consider key personnel, their mission statement, their method of operation, contracting method, major projects completed as the information you considered and the best company had the best contracting method. If you consider the contracting method the main concern of a management plan, state that you chose the company because you felt they had the strongest contracting method. Best Value Proposal

Best Value Company 1 Company 2 Company 3 Proposal Score Points Score Points Score Points Design
Solution (weight 4 ?? 5 ?? 3 ?? 10) Financial Capabilit y ?? (weight 13 4 ?? 5 ?? 8) Energy Efficienc y 2 (weight
? ? 3 ?? 4 ?? 6) Manage ment plan (weight 2 ?? 4 ?? 3 ?? 10) TOTAL POINTS ?? ?? ??

Homeworklib Always Helps You

If you want answers to questions about any subject then you have come to the right place to get free study material because here you will not only get answers but also information about many other such courses, study material, book guides, career guides, courses, and college guides their entire library for free.

You can see answers to many questions on all these topics.
#Chemistry, #Biology, #Math, #Physics, #ElectriaclEngineering, #CivilEngineering, #MechnicalEngineering, #chemicalEngineering, #Accounting, #Business, #Nursing, #ComputerScience, #EarthScience, #English, #History

So now you can easily ask all subjects questions by filling below form to get free Answers, this service is very fast and free on Homeworklib.com

Homeworklib: Your Answer

Company 2 is the winner of the project, based on their weighted order of priority.

A weighted criteria matrix is a decision-making tool that is particularly useful when there are only a few good options available and a decision must be made between them.

It is done by weighing decisions, as the phrase implies, and it can be applied to any form of decision-making process.

The first step is to figure out what your possibilities are.

In this scenario, the decision is to select the best firm to do the job, with possibilities including company 1, company 2, and company 3.

The second stage is to establish the criteria that will be used to make the decision. Criteria will always be different and will be determined by the type of choice to be made.

In this situation, the company's selection criteria are based on its financial performance.

Design solution	10
Finanncial capabilities	8
Energy efficiency	6
Management plan	10

The third step is to give each item in the criteria a weight value.

These were already present in the problem, and the corresponding weight values are as follows:

The higher the weighted value, the more relevant that factor is in terms of the decision to be made. Design solution and management strategy earned the highest assigned values in this category. This indicates that the company's design solution and management plan take precedence over its financial competence and energy efficiency while evaluating its proposal.

It's worth noting that the weight values can also be stated as a percentage.

The fourth step is to use a range to score your selections based on how closely they comply to your requirements.

This problem was graded on a scale of 1 to 5, and the results are displayed below.

Criteria	Company 1	Company 2	Company 3
Design solution	4	5	3
Financial capabilities	3	4	5
Energy efficiency	2	3	4
Management plan	2	4	3

The fifth step is to determine the final score for each option. This is accomplished by multiplying the scores by the weight assigned to each condition.

Criteria	Weight per criteria	Company 1	Company 2	Company 3
Design solution	10	40 (Score of 40 x Weight of 10)	50 (Score of 5 x 10)	30 (Score of 3 x 10)
Financial Capability	8	24 (Score of 3 x 8)	32 (Score of 4 x 8)	40 (Score of 5 x 8)
Energy efficiency	6	12 (Score of 2 x 6)	40 ( Score of 4 x 10)	30 (Score of 3 x 10)
Management plan	10	20 (Score of 2 x 10)	40 (Score of 4 x 10)	30 (Score of 3 x 10)
TOTAL		96	140	124

The sixth step is to rate each choice in weighted order of relevance after you've finished the calculations. The following is the ranking.

1. Company 2

2. Company 3

3. Company 1

Step-by-step explanation

References.

Pamučar, D., & Janković, A. (2020). The application of the hybrid interval rough weighted Power-Heronian operator in multi-criteria decision making. Operational Research in Engineering Sciences: Theory and Applications, 3(2), 54-73.

Buck, A. R., Anderson, D. T., Keller, J. M., Wilkin, T., & Islam, M. A. (2020, July). A weighted matrix visualization for fuzzy measures and integrals. In 2020 IEEE International Conference on Fuzzy Systems (FUZZ-IEEE) (pp. 1-8). IEEE.

Miao, S., & Su, H. (2021). Bipartite Consensus for Second-Order Multiagent Systems With Matrix-Weighted Signed Network. IEEE Transactions on Cybernetics.

Şahin, M., Uluçay, V., & Acıoglu, H. (2018). Some weighted arithmetic operators and geometric operators with SVNSs and their application to multi-criteria decision making problems. Infinite Study.

How to get free answer questions for all subjects from Homeworklib?

Homeworklib will give you answers to all kinds of subject questions from our social networks like Telegram, Email address, Whatsapp group, Facebook, and Instagram.
You can also send us your questions through our google form which is given below link.