Describe managements process for choosing a project selectio

Describe management’s process for choosing a project selection model. How does it align with the organization’s mission?

Solution

Every project selection is based on two very important aspects numerical and non numerical quantifiers.   Numeric selection models are considered to be the tangible aspects of selection as it brings down everything in terms of numbers which are easy to understand and prioritize. Non numeric data and selection is based more on certain attributes which like strategic composition have to be decided upon and are very necessary for selection like human resources, managers, talents etc.

Selection criteria differ from project to project. The most important selection criteria are the return on the project. Managers usually look at the returns before selecting the project .Another important attribute for selection is the talent that is available in the form of human resources .another selection criteria would be the technolgy readiness for the project.

The mission statement is very important in selecting a project as it describes the way the targets and goals will be achieved. The mission statement guides in selecting projects because the specific objectives of functioning are clearly dictated in the mission statement. Hence selecting projects should be in collation with the mission statement which is the broad charter of how the organization will function .This is a governance charter and so has to been aligned towards fulfillment of selection of projects.