PRIORITIZING PROJECTS

Prioritizing Projects at D. D. Williamson

Prioritizing Projects at D. D. Williamson

Introduction

The company was founded in 1865, and today it is operating in five continents and has nine natural coloring operations. The specialties of the company are caramel color and natural color. The company serves the largest producers of food products, which include drinks, sauces and food products that are baked. Moreover, it also includes producers of beer, cheese and other confectionary items. It is because of the quality systems of the company that the company can maintain product standards which are required, by all the foods manufactured worldwide. Moreover, the company ensures that the team works with dedication. Therefore, the companies that demand quality, availability and performance can rely on D. D. Williamson since the company produces products that are highly consistent.

Critique

It is essential for companies to determine the potential projects of the company that would be best in terms of the usage of the resources of the company. Since companies design many projects, not all of them can be feasible to accomplish. An outlook database is used by D.D. Williamson for the purpose of keeping track with the projects. Therefore, 78 projects were separated by the company and were listed. The first criteria of the company were to prioritize the projects after which they were weighted. After this, list of projects was refined, and rating of each project was done on the basis of the criteria and ratings are totaled. The two purposes of the first selection criteria were a meaningful list that was required to prioritize the projects with reference to the objectives of the company. Besides this, the management also believed that the entire team needs to be involved. This is important because it helps in the productivity of the company. A "net" touch technique was also used to prioritize the process at D. D. Williamson. Everyone was asked to provide their opinion with reference to the project, and 21 criteria were implemented. The other activity was to weight every criterion in which the team is asked to agree on the criteria that are most important. After this, they have to give a score to it from 10. Therefore, this process enables the company in selecting the projects that are considered as most important (Drummond & Ensor, 2005).

Recommendations

Since it is important to improve the prioritizing process, some recommendations are mentioned below.

1.Choosing the projects that should be funded are a very crucial step and the best project considering the resources of the company have to be chosen. Therefore, portfolio officer must determine the projects to initiate, which on-going projects to fund further and which ones to stop.

2.Forced ranking of the project can be done to determine the priority of the projects.

3.Experienced and impartial individuals should be given the duty of ranking projects.

4.Data of the project should be improved. This can be done by opting for the best project prioritize process. Management should take steps to address the problems of poor project data those causes problems for the ...