Project Management: Achieving Competitive Advantage, Fifth Edition

Introduction: Project Selection

1. LO 3.1  Explain six criteria for a useful project selection/screening model.

All organizations select projects they decide to pursue from among numerous opportunities. What criteria determine which projects should be supported? Obviously, this is no simple decision. The consequences of poor decisions can be enormously expensive. Recent research suggests that in the realm of information technology (IT), companies squander nearly $100 billion a year on projects that are created but never used by their intended clients. How do we make the most reasonable choices in selecting projects? What kind of information should we collect? Should decisions be based strictly on financial analysis, or should other criteria be ...