Discuss five nonfinancial project selection criteria that ar

Discuss five non-financial project selection criteria that are typically used by organizations. Which criteria do you think is most important? Provide reasoning behind your selection. Can you think of a project situation in which selection criteria are not warranted?

Solution

Discuss five non-financial project selection criteria that are typically used by organizations.

The five non-financial project selection criteria that are typically used by organizations are:

Which criteria do you think is most important? Provide reasoning behind your selection. Can you think of a project situation in which selection criteria are not warranted?

Personally speaking, I believe that the most important criterion of the above listed non-financial factors is the organizational strategy. The reason is that strategy is adopted to achieve organizational goals. To achieve the organizational goals, it is important to have an effective strategy. Hence, a project that complements the strategies helps to achieve organizational goals.

Situations which occur in the day-to-day activities do not warrant any project selection criteria. For example, charities are based on goodwill and hence do not require the project selection criteria.