Assume that you are buying a car and you are deciding between three cars: one new car using a lease, another that is a financed purchase, and finally, a pre-owned vehicle. Describe how you would approach choosing between the different vehicles and consider how your process would be similar or different from the project selection process. Include in your post answers to the following questions:
- Could the process used for choosing between cars be applied to selecting between projects to fund within a company? What would be the same, and what would be different? Why?
- Critique the process you used for selecting between vehicle acquisition alternatives. What are some changes you might make to the process so that it is useful in the context of project selection?