Topic > 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 type of future profit and/or returns from the project in question. To achieve this, managers use statistical and mathematical comparisons of projects. This method is not always reliable due to constantly changing environments. Discounted cash flow methods and real options are the most commonly used methods. Discounted Cash Flow: Discounted cash flow is divided into two forms, net present. Some managers even come up with a type of scoring system based on answers to questions. Screening questions allow management to examine many important issues related to the development project. Research should be conducted before deciding on the right innovative technology for UNICEF ground staff to use. Screening questions would be a good way to do that research. Current capabilities and possibilities can be determined using this method. The method will also help calculate the time and costs for developing and implementing the technology. Q-Sort: Has been used for purposes such as identifying personality disorders to establish 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 has to arrange them in order of importance and at the end the group has to come to an agreement on which projects are best. This method could be useful in identifying the innovative technology best suited to UNICEF's needs. This would create an environment where people can exchange ideas and agree on the right one. All individuals involved should make their own decisions based on technology and costs and focus on the needs of UNICEF.Conjoint