Question

300 words on Do's and Dont's of Project Selection.

Answer 1

Project Selection: The success of an organization depends up on the kind of projects it selects and quality projects it delivers with in a timeline. Selecting a right project is always a big task for every organization because most of the companies invest so much time and do through analysis in project selection. For every organization the project management department is mainly involved in project selection process. Let’s discuss the Pros and Cons of project selection

Pros	Cons
Identify the right project where can oragnization has the capability to invest and gain profits through it	Don’t consider a project that need huge investments and infrastructure
Able to identify the risks in the projects with latest tools and technologies	Without analysis and proof read selection of project leads to failure
Understand project needs and requirements and ability to delivery such projects	Neglecting project needs and requirements will have more chances of negative outcome
Always select a project that has minimal chance of failures and maximum chances of success	Considering less scucess rate projects has more impact on the oragnization
Can be completed within the timeline with the limited resources. Because delivering the project in the given time is very important for any project	Don’t involve in any project that consumes more time and could not able to deliver on time will bring a negative impact on the organization
Assume the key resources for the project requirement and compare with the available resource with the organization	When organization has less key resource than identify and avoid such projects which again does not bring any value to the organization
Select a project that continues with minimal training and skills so that company need not invest again in such projects	Huge investment on trainings and development on a particular project would be burden to the organization
Always do a thorough analysis on the project data by including team to discuss the success and capability to deliver the project	Individual decision making will never bring a right project to the organization
Identify the opportunities in the project for more success	Failure to identify the opportunities and possibilities in the project success
Good Decision making managers are very important in selecting a project	Poor management decisions always fails in project selection