2.

4 APPLYING A SELECTION MODEL

Project Classification
No necessity of having the same criteria for different types of project as discussed Most important criterion- the projects fit to organization strategy Important to co classify proposal type-enables usage of appropriate criteria to be used for evaluation of the proposal.

Selecting A Model
A dramatic shift from usage of financial criteria to multiple criteria. Senior management interested in identifying potential mix of projects that yield best use of human & capital resources to maximize ROI in the long run

Sources & Solicitation of Project Proposals

Project proposals could come from anyone who feels his/her project will add value to the organization Not necessary that only certain classes of people can generate project proposals Encourage & keep solicitations open to all sources- internal & external sponsors.

Ranking Proposals & Selection of Projects

A structured process required for this purpose Steps are as follows: i. Project proposal idea ii. Data collection & backup iii.Self- evaluation of the project by criteria by the sponsor iv.Evaluation of the proposal by priority team v. If accepted the project then: a. Project held for resources b. Priority, resources & project manager are assigned vi. Evaluation of progress.

Responsibility for prioritizing

It can be uncomfortable exercise for managers. If management is truly trying to direct the organization to a strong future position, a good project priority system can develop a culture in which everyone is contributing to the goals of the organization.