What should you do with the money? -

I’m working on a management multi-part question and need an explanation and answer to help me learn.

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You were the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The event was a big success, garnering a net profit of $3,500. Before the event your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the Chunk of Coal House and St. Mary’s Soup Kitchen. Eventually your group decided that the funds should be given to Chunk of Coal House. You are about to write a check to its director when you read in the local newspaper that the Chunk of Coal House has terminated operations.

(Question):
1-1 What should you do with the money?

Assume that you have the following decision-making options:
(1) make decisions on your own with available information,
(2) consult others before making a decision, and
(3) call a meeting and reach a consensus, seeking to arrive at a final decision everyone can agree on.
1-2 Which approach would you use to make the decision, and why?

2- Watch the short video in the following link:

(Question):
How Project Managers handle Risk in Projects explain.
Risk in Projects bring Opportunities as well Threats. Explain

Answer & Explanation

Solved by verified expert

There are a few different ways to handle this. The first is to make the decision on your own. This is the most efficient way to handle the situation, as you already have all the information you need. However, it is also the least democratic way to handle the situation, as you are not consulting with others. The second way to handle this is to consu

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Step-by-step explanation

lt with others before making a decision. This is more democratic, as you are seeking input from others. However, it is less efficient, as you are taking the time to consult with others. The third way to handle this is to call a meeting and reach a consensus. This is the most democratic way to handle the situation, as you are seeking to arrive at a final decision that everyone can agree on. However, it is also the least efficient way to handle the situation, as you are taking the time to consult with others. In this situation, you should make the decision on your own. You already have all the information you need, and making the decision on your own is the most efficient way to handle the situation.

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