PGMP · Question #5
You are the program manager for your company and evaluating the sellers to determine the seller to buy from. In your analysis you've created a histogram to display the pros and cons for each seller…
The correct answer is C. Weighted scoring model. A weighted scoring model (also called a weighted criteria matrix or vendor scoring matrix) assigns different weight values to predefined evaluation categories, scores each vendor in each category, and totals the weighted scores to identify the best choice. It is objective and…
Question
You are the program manager for your company and evaluating the sellers to determine the seller to buy from. In your analysis you've created a histogram to display the pros and cons for each seller. You've created five categories of interest and assigned values to each category for each vendor. Your five categories are:
- Cost
- Schedule
- Experience
- Certification
- Warranty
Each category has a different point value and the vendor that receives the maximum points in total will win the contract. What type of seller evaluation are you performing?
Options
- AMonte Carlo simulation
- BExpert judgment
- CWeighted scoring model
- DBenchmarking
How the community answered
(60 responses)- A3% (2)
- B7% (4)
- C88% (53)
- D2% (1)
Explanation
A weighted scoring model (also called a weighted criteria matrix or vendor scoring matrix) assigns different weight values to predefined evaluation categories, scores each vendor in each category, and totals the weighted scores to identify the best choice. It is objective and systematic, reducing bias in vendor selection. The five categories (Cost, Schedule, Experience, Certification, Warranty) each carry different point values, which is the defining characteristic of weighting. Monte Carlo simulation models probability distributions for risk, expert judgment relies on subjective expertise, and benchmarking compares against industry standards-none of which describe the structured point-based scoring described here.
Topics
Community Discussion
No community discussion yet for this question.