Project Selection is typically based on which of the following considerations?

Expert Solution

Companies have a hard time when it comes to selection of projects. While selecting projects, it is important for companies to choose the ones that push the organization forward and support its goals. Companies ensure that while selecting projects, all the stakeholders are aligned to it and there is no disagreement within the teams.

The five top most considerations that a company should give while selecting projects are:

The project selected aligns with the overall strategy of the company. The stakeholders associated are aware of the company strategy, this way one can ensure that the project meets organizational goals.
Identify right leader for the project. While selecting the leader, ensure someone from the leadership team is selected who oversees the project, guides the team members, resolve conflicts and communicate progress to the company.
Assessment of intensity and reach of the project. It will help companies in understanding so as to how many departments will be involved, which departments would benefit from outcome etc.
Availability of sufficient resources to ensure successful completion of project. Resources like people, budget, time etc. If the company does not have sufficient resources, the project may get stalled and may not benefit the company.
Lay out timelines, success matrices - this will ensure that the project is on track. Companies should be able to track progress and measure success of the project.

keosha answered 7 months ago

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