Question

Recall a project that you may have participated in; what measures did you use to evaluate the success of the project. (Give a brief summary of the project and reasoning behind the choice of the measures)

Answer 1

The project was to restructure the supply chain planning system which would enable the company to reduce costs and boost sales. The measures used to evaluate the success of the project were the reduction in costs achieved and the increase in sales.

To earn more profits, it is very essential to increase sales and reduce costs. An efficient supply chain planning plays a major role in achieving this. So, to measure the effectiveness of the new supply chain planning system, the measures of cost reduction and increase in revenue generation were chosen.