Question

It seems like every organization has more projects to complete than the amount of resources they have available to work on those projects. In this situation, how do companies prioritize which project to select first? There are a variety of thought processes and tools used to choose projects. Name a tool and explain how the tool is useful while adding to the class’s body of knowledge.

Answer 1

In reading chapter two, there were many processes an organization could utilize in selecting which project to undertake. In accordance with Schwalbe, when deciding on which projects to choose, managers should focus on meeting their needs. Projects addressing competitive strategy are better likely to be successful. This is because they will be important to the organization’s competitive position.

For this particular process, I see the benefit of making project selections base on this criteria. A good example we all have seen in the past couple of years are stores like Walmart and Kroger’s grocery pickup and delivery services. These companies are making it easy for customers to spend money in their stores while removing barriers that may prevent them. Store employees bring out orders and load it into individuals’ cars. People get the same low prices without the headache of physically shopping, standing in store lines and dealing with traffic/leaving home. These stores saw a growing demand and tapped into that market. I’m sure allows them to see a financial profit as more and more are getting into it seeing it so convenient. Likewise, it has given them a competitive edge over the traditional brick and mortar stores where people must physically come in to shop.