Weighted Decision Matrix To Support Its Defined Strategy

Weighted Decision Matrixin Order To Support Its Defined Strategic Goal

Weighted Decision Matrixin Order To Support Its Defined Strategic Goal

Weighted Decision Matrix In order to support its defined strategic goals Manage Your Health, Inc. and as a result I have identified four specific web-based applications and services which can help to meet the objectives. Project Strategy Support Financial Benefits Additional Benefits Value Recreation & Wellness Intranet Project Employee Assistance Reduced Health Insurance Premiums - $30 per employee annually Fitter, more motivated employees Low risk and development cost Health Coverage Costs Business Model Reduce Internal Costs Reduced Health Insurance Premiums – $20 per employee annually Increased auditing and reporting options on healthcare expense Low risk and development cost Cross-Selling Summary Improve Delivery of Products & Services Increased profits Increase sales 3 year profit surplus Web-Enhanced Communications System Reduce Internal Costs Cost Savings Improved customer service High development costs but higher surplus As the table outlines, all of the four offerings provide some compelling advantages and from a purely financial outlook we can further collate each project: Recreation & Wellness With 25,000 employees in total, a saving of $30 annually per employee provides a total cost saving of $750,000 over a four year period.

Health Coverage Costs Again, with savings based on a per employee basis this would equate to $500,000 although development costs of $100,000 leave a total of $400,000. Cross-Selling Summary Profits increased each year by $1m for 3 years to give a revenue of $3m with $800,000 to be subtracted annually in development and maintenance costs. Total surplus due would therefore be $600,000. Web-Enhanced Communications Profits increased each year by $2m for 3 years to give a revenue of $6m. Development costs of $3m with a 20% cost each year gives a total cost of $4.8m so surplus due is $1.2m.

Paper For Above instruction

The strategic planning process in organizations like Manage Your Health, Inc. relies heavily on decision-making tools such as the weighted decision matrix to align projects with organizational goals. In this context, the application of a weighted decision matrix facilitates a systematic evaluation of multiple projects or services, prioritizing them based on criteria that support the strategic objectives of the organization. This ensures that resources are allocated efficiently towards initiatives that promise the most significant benefit aligned with corporate strategy.

In implementing a weighted decision matrix, organizations first define their strategic goals—such as improving employee wellness, reducing healthcare costs, enhancing communication systems, and increasing profitability through new services. Each potential project or service is then scored against these objectives based on criteria like financial benefits, operational efficiencies, risk levels, and additional benefits such as employee motivation or improved customer service.

Considering Manage Your Health’s specific projects, the recreation and wellness intranet, health coverage costs, a web-enhanced communication system, and cross-selling initiatives are assessed for their strategic contribution. The recreation and wellness project aims to improve employee health, which could potentially reduce insurance premiums — a direct cost saving of $750,000 over four years, with minimal risk and low development costs. This aligns with the organizational goal of promoting employee well-being and potentially reducing healthcare expenses.

The health coverage cost project similarly targets cost reduction, expected to save $500,000 over four years after accounting for development costs of $100,000, supporting the organization’s financial sustainability. The web-enhanced communications system, despite its high initial development costs of $3 million, projects a substantial surplus of $1.2 million over three years, aligning with strategic priorities of improving internal and external communication channels to boost customer satisfaction and operational efficiency.

Furthermore, these projects' financial analyses reveal their potential to generate substantial surplus profits, crucial for strategic growth and competitiveness. The recreation & wellness program, for instance, could save the organization up to $750,000 over four years, while the communication system could yield a surplus of $1.2 million over three years. These figures elucidate the importance of prioritizing investments based on a weighted criteria system that combines financial returns with strategic benefits.

Beyond financial metrics, the decision matrix incorporates qualitative benefits like employee motivation, improved healthcare reporting, and customer service enhancements. These benefits are critical, as they contribute to organizational resilience and long-term sustainability. Implementing such a matrix involves assigning weights to each criterion based on its importance, scoring each project accordingly, and calculating a weighted score that reflects overall project priority. This structured approach enables management to make informed decisions, ensuring that project selection directly supports strategic goals.

In conclusion, deploying a weighted decision matrix supports strategic alignment by providing a rigorous framework to evaluate and prioritize projects and initiatives. For Manage Your Health, Inc., this method ensures that investments in applications like wellness programs, cost-saving measures, and communication systems are justified both financially and strategically, fostering organizational growth, efficiency, and a competitive advantage in the healthcare management sector.

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