Rank the three key parameters, schedule slippage, resource utilization, and in-process inventory, from most critical to least critical for an organization and justify your ranking

What will be an ideal response?

Answers may vary, however from a project management standpoint, schedule slippage is a natural choice as most critical. A missed delivery date may result in a dissatisfied customer, loss of repeat business, penalties for late delivery, and possible missed sales and market share for new products and services. In-process inventory is cited as the reason for employing more resources and tends to have a cascading effect in creating still more inventory and possibly more missed deadlines. Perhaps the least critical parameter is the full utilization of all resources. If projects are completed on time and not all resources are fully utilized, there shouldn't be cause for concern. A company where everyone is working nonstop is likely involved in a great deal of busywork and is creating inventory simply to look busy.