New York Institute of Technology Weight by Ranking WFA Activity

Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below

Product*

Criteria

A

B

C

Weight (%)

Development cost

P

F

VG

10

Sales prospects

VG

E

G

15

Producibility

P

F

G

10

Competitive advantage

E

VG

F

15

Technical risk

P

F

VG

20

Patent protection

F

F

VG

10

Compatibility with strategy

VG

F

F

20

100

* P = poor, F = fair,   G = good, VG = very good, E = excellent 

1. Using an equal point spread for all      five ratings (i.e., P = 1 ,  F = 2 ,  G = 3 ,  VG = 4 ,       E = 5 P=1, F=2, G=3, VG=4, E=5), determine a      weighted score for each product idea. What is the ranking of the three      products? 
2. Rank      the criteria, compute the rank-sum weights, and determine the score for      each alternative. Do the same using the rank reciprocal weights. 
3. What      are some of the advantages and disadvantages of this method of product      selection?

References