Question

What are two things (or metrics) that combine to make a project valuable?

1) Time and cost
2) Quality and customer satisfaction
3) Scope and stakeholder engagement
4) Risk and resource allocation

Answer 1

Quality and customer satisfaction are two crucial metrics that make a project valuable, involving the assessment of product attributes and alignment with customer expectations, backed by techniques such as cost/benefit analysis.

Step-by-step explanation:

Two key metrics that combine to make a project valuable are quality and customer satisfaction. Quality touches on the attributes of the product and how well they meet specifications, while customer satisfaction ensures that the customer's expectations are met or exceeded. Engaging in practices like running adequate tests on prototypes, focusing on the engineering design process, and considering the cost/benefit analysis are all part of ensuring high quality and customer satisfaction. This includes weighing marginal costs against marginal benefits, providing a clear view of what is sacrificed and what is gained, helping to guide decision-making and enhance the overall value of a project.