Project Evaluation and Decision Making

BUSINESS DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
1.1 Plan for collection of primary and secondary data...........................................................4
1.2 Sampling design for research...........................................................................................4
1.3 Questionnaire for research................................................................................................5
TASK 2............................................................................................................................................6
2.1 Representative values of statistical tools..........................................................................6
2.2 Analysis of results of mean median and mode.................................................................7
2.3 Measures of dispersion.....................................................................................................7
2.4 Calculation of quartile, percentile and correlation...........................................................8
TASK 3............................................................................................................................................9
3.1 Graphic representation of collected data..........................................................................9
3.2 Creation of trend line for prediction...............................................................................12
3.3 Covered in PPT...............................................................................................................12
3.4 Formal business report...................................................................................................12
TASK 4..........................................................................................................................................13
4.1 Information processing tools for business......................................................................13
4.2 Project plan for business project ....................................................................................14
4.3 Project evaluation techniques.........................................................................................15
CONCLUSION..............................................................................................................................17
INDEX OF TABLES
Table 1: Calculation of mean, median and mode............................................................................6
Table 2: Measures of dispersion......................................................................................................7
Table 3: Calculation of quartile and percentile................................................................................8
Table 4: Calculation of correlation..................................................................................................8
Table 5: Sales, cost and profit data..................................................................................................9
Table 6: Calculation of pay back period method...........................................................................16
Table 7: Calculation of ARR.........................................................................................................17
Table 8: Calculation of NPV..........................................................................................................17
Table 9: Calculation of IRR...........................................................................................................17

ILLUSTRATION INDEX
Illustration 1: Chart on sales, cost and profit data...........................................................................9
Illustration 2: People opinion on factors that greatly affect their purchase decisions...................10
Illustration 3: People opinion on Syngenta pricing policy.............................................................11
Illustration 4: Trend line for Sygenta.............................................................................................12
Illustration 5: GANTT chart..........................................................................................................14
Illustration 6: Network diagram.....................................................................................................15

INTRODUCTION
Statistics is tool that is commonly used by the business firms to analyze huge set of data.
In this report, statistical tools like mean, median and mode is applied on data and results are
interpreted. In the middle part of the report primary data is analyzed by preparing a charts. In end
part of the report, project evaluation methods are described and their results are interpreted. On
the basis of calculation most viable project is selected for the firm.
TASK 1
1.1 Plan for the collection of primary and secondary data
In order to conduct research for Amitsar, data will be collected from USA. This nation is
selected for data collection because in USA, huge quantity of crops are produced. In order to
conduct research, sample of 30 people will be taken who reside in different boroughs of London.
In respect to research, both the primary and secondary data will be collected by the researcher.
Primary data is the facts collected by research himself (March and Bourne, 2011). Whereas,
secondary data refers to the evidences that have been already collected by someone and printed
in any source of information. For the present research, both types of data will be equally helpful.
Primary data will be collected by distributing questionnaire among the respondents. Whereas,
secondary data will be collected from books and journals. Hence, in this way, entire research will
be carried out.
1.2 Sampling design for research
There are many sampling methods and some of them are as follows. Simple random sampling- Under this method of sampling, all the sample units will be
taken on the random basis from population (Jordà, Schularick and Taylor, 2011). This
means that in this sampling method, there is no specific criteria considered to select
sample units from population. Stratified random sampling- This method is appropriate for research because in this, all
the sample units are taken from population on the basis of specific factors. In order to
collect appropriate data, it is important to collect answers from respondents that are
different from each other on the basis of income and age. Hence, this sampling method is
selected for the research.