Question

An MBA redesign committee plans to spend a decade traveling the world to benchmark graduate programs at other universities. Regardless of the screening model being used, it will suffer from poor performance in the area of:A) flexibility.
B) Capability.
C) Comparability.
D) Cost.

Answer 1

Answer:

D) Cost.

Explanation:

First of all, project screening is a preliminary evaluation of how well the project development can suit different criteria. In this case, no matter which project screening model you want to use, this MBA redesign project is going to perform poorly on costs.

The project's schedule is very long, and the researchers will face several issues regarding the cost benefit of this particular methodology. It is possible for them to estimate a fairly accurate budget since we are assuming this committee belongs to an American or European university and both the dollar and euro are very stable currencies. You can calculate an expected inflation rate and work with it. Most of the research will also be done in the US and Europe and probably some Asian countries (Japan, China and South Korea).

But even if you can accurately estimate the costs of the project, they will be very high, and is it worth it? This is the real issue, the cost benefit of the project is an extremely weak point. You have to include the implicit costs of the project (cost of replacement teachers) and it makes very little sense.

Probably other methodologies are much more efficient and less time consuming, e.g. internet research and taking online courses from other universities.

Answer 2

Answer:

(D) Cost

Explanation:

Due to change in economy overtime it is not easy to predict the cost of a long term project. Also different states and or countries have different inflation rates, therefore it is not easy for the committee that will spend a decade travelling the world to balance performance in the are of cost. Long term budget needs to be flexible to cover increase and decrease in the economy.