The paper “ EGCM Company- Project Screening Methods and Selection, Decision-Making over the Project Life Cycle” is a great variant of case study on management. EGCM is a medium-sized prototyping company that has been in existence for the last ten years. The company is a family-owned business and wants to undergo expansion in terms of upgrading and increasing its prototyping business. Since inception, the company has achieved steady growth with a solid base of clients. It has come that time due to various social and economic changes in the market place, coupled with the latest technological advancement where new types of prototyping equipment are being invented. Options available Option one: Build on existing company practices on PrototypingThe advantages of this option are that its low risk because the business has a working philosophy, a functioning structure and the requisite in manpower place.
In addition, there will be no need to train the staff because they know how the system works. So in terms of cost, this option is very efficient but when it comes to speed and efficiency it remains more or less the same. Option 2: Acquire New TechnologyThis option requires the company to abandon the current model of business and choose the 3D technology that will translate to high speed and low-cost prototyping.
The risk of this option is high because it requires upfront capital to buy new equipment and the new software. It will also that the staff is trained afresh or be sacked all to gather so that those who understand this new technology to be hired. Approaches to Project Screening and SelectionAccording to Brown and Eisenhardt (1997)project screening is a process of evaluating various options in order to acquire useful information that can then be used in making a decision among the many available options on the way forward (Saaty, 1996).
Available literature shows that there are four main projection selection models. They include; the checklist model, the simplified scoring model, profile models, and the analytical hierarchy process(Lehtonen, 2001). In this section, each of these models will be discussed in relation to the EGCM case. The checklist ModelAccording to this model when a business is faced with a dilemma of choosing among various alternatives, they should think carefully about the criteria they will use in determining the alternatives to settle.
EGCM, for instance, needs to consider, cost, efficiency, returns, past business experience as well as the risks involved (Saaty, 1996). Then each of these criteria will be rated on a scale of high, medium and low. The option that gunner the most positive checks then becomes the best alternative. See for example; A Table Illustrating the Checklist Model Performance Option Criteria High Medium Low Option 1 Cost x Risks x Past Experience x Returns x Availability of Skills x Efficiency x Option 2 Cost x Risks x Past Experience x Returns x Availability of Skills x Efficiency x According to the table above option two is optimal in this on the basis of the criteria employed.
Howeveras Pinto and Millet (1999)Notes this model is not without weaknesses. For instance, the use of the term high medium and low is very subjective and thus is subject to being misinterpreted or misunderstood. Additionally, this model does not address the issue of trade-offs well and that affects the decision model. While that is the case, this model remains among the easiest to employ.