Question

Regardless of the criteria differences among different types of projects, the most important criterion for project selection isHow the project will balance risk within the project portfolio?a. The project's fit to the organization strategyb. Compliancec. Nonfinanciald. Profit

Answer 1

Answer:

a. The project's fit to the organization strategy

Explanation:

The project should be chosen according to how the organization competes in market or what the strategy is in general terms. This is the upward of all other criteria. Now let's look at other criterias:

Project sampling methods play an important role in the initial phase of the project. Let's look at the 5 most important criteria:

1) Chance of Success: Not all projects will be successful in any company. Therefore, when selecting a project, the majority of project managers take into account opportunities that may arise and use the criteria for selecting a project. The sponsors want the project managers to be as successful as they want it to be.

2) Availability of data: Is the information ready for the project? If not, can it be collected easily? Most project managers and sponsors know that the information they need for a project is rarely analyzed.

3) Profitability: Any project is for any material gain or profit. At the same time, in addition to the monetary benefits, customer satisfaction, increased productivity, and overall engagement with the company; increases the scope of work and more.

4) Comfortable Time: There is always a perfect time to start a project. Conformity is contextual. I mean both start and end, according to the timeline and the timetable. An important project must be closed on time. First of all, it should be planned to close in time. Must be covered in time to close.

5) Resource Availability: Not all organizations make a laundry list because everything seems to be a Business or Customer Priority. Even the largest and richest organizations have limited resources. The resource is not exhausted, it has not been determined to engage or surrender anywhere else.

Each project considered depends on the decision to invest its resources to achieve a certain result - start a new IT initiative; design of a new building; or an updated human resources program. On the other hand, decisions to use an external source, an ongoing project, to wait for more resources, or to opt-out generally, must also be considered in order to achieve the desired result. When a project is incompatible with the values of the organization; the expected ROI has not been reached or, in extreme cases, does not endanger the health of the company; Leaving the project can be the most rewarding way of doing things.