The assignment was to create the following:
- A consequence table
- A weighted scoring model
Are there any dominated alternatives that can be eliminated? Are there any even swaps?
Management problem definition
The problem that is being faced by the management of the company lies in choosing the new venue for the conference of accounting systems’ users. The problem appeared due to the unexpected effect of the Hurricane Katrina that prevented the management from keeping the conference held in New Orleans. Several alternatives on the possibility of running the conference were considered (e.g., canceling the conference, postponing the conference, etc.) with regard to maintaining the level of conference’s costs and maximizing attendance. Careful consideration of all the alternatives led management to the decision of keeping the same dates of the conference, but changing the venue.
The following assignment is dedicated to deciding on the most suitable venue-related alternative for the conference. Such objectives as airfare costs, hotel room rate, conference costs and the preferences of potential attendees of the conference. Consequence table and weighted scoring model are being designed in order to meet above-mentioned objectives.
Scoring Model (Include Legend)
Weighted Scoring Model (Include Legend)
It is recommended to conduct the conference in Las Vegas, because this option has highest total weighted score. While weighted score of Chicago option is also high, it may be recommended to conduct one more survey among potential attendees to get to know whether they are still ready to participate in the conference, if it is held on Las Vegas. In case lots of potential attendees refuse from participation due to location issue, initial aim of attendance maximization will not be met. In this case, it will be worth proceeding with Chicago option. New York alternative is to be eliminated due to the lowest weighted score.