Assignment no: 01

Assignment on
Research Proposal Evaluation

Course: Business Research Methodology

Course Code: ALD 4201

Submitted to:
Dr. Md. Abdul Hannan Mia
Professor
Department of Management Information Systems
Faculty of Business Studies
Dhaka University
Adjunct Faculty
Department of Management Studies
Faculty of Business Studies
Bangladesh University of Professionals

Submitted by:
MD. Rakib Hossain
Roll: 2024161012
Section: B, 4th Year (Batch: 05)
Department of Business Administration in Management Studies
Faculty of Business Studies
Bangladesh University of Professionals

Date of Submission: 11th August 2023

 Evaluation of The Research Proposal
When a business is having trouble managing its inventory and is given the choice between
two research ideas, Proposal 1 and Proposal 2, the evaluation procedure should carefully take
into account a number of important aspects. The choices between ex post facto and prior
evaluation approaches, as well as the application of option analysis and decision theory, are
the main determinants of these elements.

(a) Ex post facto versus prior evaluation:

Ex post facto evaluation, as defined in Proposal 1, entails looking back on data to find trends
and room for improvement. It's crucial to remember that this method might not correctly
reflect the current dynamics and changes that have taken place since the data collection. It
offers insights into historical patterns and problems, but it could miss important recent
changes because it doesn't always capture real-time information.

Contrarily, Proposal 2 proposes a prior evaluation strategy, which entails examining the
current practices and processes in the materials department in order to spot problems and
propose fixes before they get worse. This proactive approach seeks to stop future issues with
inventory management, but it might not take into consideration all the historical information
that could be important for comprehending the context and trends.

(b) Evaluation using option analysis and decision theory:

Both ideas can improve the evaluation process by using decision theory and alternative
analysis.

Option analysis can be useful in the context of Proposal 1, which entails an audit of the
transactions from the previous year, by taking into account numerous applications for the
historical transaction data. The possible advantages and hazards of basing suggestions on
previous transactions can be quantified with the use of decision theory. The business can
decide how to address the inventory management difficulties by carefully weighing the pros
and cons of several choices.

Option analysis is crucial in assessing the many changes that can be made within the
materials department for Proposal 2, which concentrates on modifications to the processes
and systems. Decision theory can be used to evaluate each change's chances of success as
well as any potential effects it might have on inventory control. The business can choose the
most practical and efficient improvements to make by putting decision theory ideas to use.

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In conclusion, careful consideration of the trade-offs between ex post facto and previous
evaluation methodologies is required during the review process for the two different research
proposals, Proposal 1 and Proposal 2. Options analysis and decision theory can also offer an
organized method for weighing possible outcomes and coming to wise conclusions. The
decision between the two approaches hinges on whether the business wants to address past
issues or avoid future ones, and the evaluation methodology picked out should support this
goal.

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