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Essay / Advantages of qualitative and quantitative methods
Many companies use quantitative and qualitative methods to evaluate innovative projects. In this article I will discuss these methods in relation to UNICEF and their desire to improve their ability to communicate in the rural areas where they go to provide disaster relief. Quantitative Methods Quantitative methods involve converting projects into an estimate of some sort of future profit and/or returns from the current project. To achieve this, managers use statistical and mathematical comparisons of projects. This method is not always reliable due to constantly changing environments. The discounted cash flow and real options methods are the most commonly used methods. Discounted Cash Flow: The discounted cash flow is broken down into two forms, the net present. Some managers even offer a sort of rating system based on the answers to the questions. Screening questions allow management to consider many important issues related to the development project. Research needs to be conducted before deciding on the appropriate innovative technology for UNICEF ground staff to use. Screening questions would be a good way to do this research. Current capabilities and possibilities can all be determined using this method. The method will also help determine the timing and costs of technology development and implementation. Q-Sort: Has been used for purposes such as identifying personality disorders or establishing customer preferences. This is done with a sort of focus group where each individual is given a stack of cards with an idea on each card and must rank them in order of importance and at the end the group must come to an agreement on the projects to be carried out. best. This method can be useful in determining which innovative technology would be best suited to UNICEF's needs. This would create an environment where people could brainstorm ideas and agree on the right one. Everyone involved should make decisions based on technology and cost and focus on the needs of UNICEF.Spouse