Read “Suburban Homes Construction Project” at the end of Chapters 2 and 3 (in the textbook). Then select a “project selection model to maintain a balanced portfolio;” after which, submit your model in this forum as an initial post and explain in that post why you chose the model you did.
Submit your answer in the Discussion Forum and then submit peer replies regarding their answers (200 word minimum for each peer reply). Please note the netiquette rules as located in the left column of this screen. Click on “Netiquette” and read the instructions.
Answer the PMBOK® Guide Questions at the end of Chapters 2 and 3 in the textbook.
Submit your answers in the PMBOK® Guide Questions Discussion Forum, observe how your peers answered the questions, and then collaborate with your peers about the correct answers by submitting peer replies. Your initial post should have the question numbers and your answers beside them.
Please look to the Netiquette rules by clicking the “Netiquette” tab in the left column of this screen.
(PMBOK is a registered mark of the Project Management Institute, Inc.)
Suburban Homes, a real estate company, initiates a business strategy to improve productivity and profits through advanced technology. The firm consequently discovers numerous investment opportunities that would result in projects. Six options are implemented to enhance project portfolio management (Kloppenborg, Anantamula & Wells, 2015). The success of this innovation would lead to the achievement of the main goals: purchasing land for future development, communities for single-family homes, multifamily properties, small-scale apartment buildings, large-scale complexes, and commercial investments. Therefore, the numeric profit model is suitable in maintaining the balanced portfolio in this project as it ensures standard and clear decision making.
The Suburban aims at purchasing more land to build both single-family houses and large, well-furnished complex apartments that would fit both low, middle and high-class individuals. This project model is bound to return a steady flow of revenue since the residential facilities would meet the preferences of all customers (Kloppenborg, Anantamula & Wells, 2015). For instance, the single-family rooms will be composed of a kitchen, car, garage, interior rooms, and external landscaping. On the other hand, large apartments not only require attraction sites but would also need enough space for staff, security, and providence of customer services. This range of rooms in both suburban and urban areas would ensure steady and maximum profit amounts. In this numerical model, all the factors usually considered in rating the project relisted and profitability index of each determined. If the profitability index value is higher than one, the project is viable but when less than one, the project is rejected. Thus, the model also defines the relevant achievements and suggests the measures that would result in realizing them.
The Suburban is a dedicated company that aims at improving the set goals. All the efforts put in place are determined by the accuracy of the model selected to analyze the project. The numerical profit model is fit for this purpose since it will correctly balance the portfolio as discussed above.in my own opinion, I envision this model a success that will enable the Suburban to expand its productivity and service delivery charter to customers.
Week 2 Discussion:
Given these six options to look at I would use cost benefit analysis to select a project, I would also consider organizational priorities and make sure the priorities are understood, agreed upon, and communicated.
Cost-benefit analysis is a financial analysis tool used to determine the benefits provided by a project against its costs, as we know from chapter 2-there are many cost benefit analysis tools to choose. From all the options available, I would choose the most widely accepted model which is Net present value (NPV). When using net present value, the analyst first discounts the expected future value of both the project costs and benefits, recognizing that a dollar in the future is worth less than a dollar today. Then the analyst subtracts the stream of discounted project costs from the stream of discounted project benefits. The result is the net present value of the potential project. If the net present value is positive, then the organization can expect to make money from the project. Higher net present values predict higher profits.
I would apply the above analysis to all the options available and see what offers the most cost-benefit ratio, the whole point of this process is to find the best option that yield the maximum profit. Risk factor is also something that needs to be taken into consideration when trying to choose the project. From just at all the options I think suburban homes should seriously look into considering building single-family homes in suburban areas as it is one of the best and most popular strategic directions for growth for company. Most are interested in a quality life and view their home as an investment prefer buying single-family homes and as it is also easy to rent, sell, and finance, I think this makes a better choice when the project is near to densely populated areas
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