Project Management: Achieving Competitive Advantage, Fifth Edition

Summary

1. 3.1 Explain six criteria for a useful project selection/screening model. No organization can pursue every opportunity that presents itself. Choices must be made, and to best ensure that they select the most viable projects, firms develop priority systems or guidelines—selection/screening models (or a set of models) that will help them make the best choices within the usual constraints of time and money. These help them save time and money while maximizing the likelihood of success.

   Several decision models are available to managers who are responsible for evaluating and selecting potential projects. Six important issues that managers should consider when evaluating screening ­models are: (1) Realism: An effective model must reflect organizational ...