All entries for Tuesday 05 March 2013
March 05, 2013
When we started of the RDM course and were handed the briefing sheet for Waveriders. My team members and I read it carefully but decided to go with the option of Exmouth instead of Lymington because at the time it seemed like the most feasible option.
It was only afterwards that when we started to sit in our group discussions and started to work out the numbers and the logic of the two options for the locations that it struck us that we ony made a decision on the face value of both the locations.
Starting off with the decision tree we began to realize which option seemed more logical cost wise. It should be noted that that is the essence of what this decision will be based on as there is no point in choosing an expensive option if it will not even work.
We then moved on the cost benefit analysis which was calculated using the NPV with the data provided in the briefing sheet. The decision we came to was supported by both the decision tree and the CBE we conducted.
Furthermore we used SWOT, Grid and PESTLE in order to figure out how best to market out product in order to gain most sales. The SWOT helped us determine the internal and external weaknesses of our organization.