Project Selection
Gideon Peter M. Clavejo BSA 4-B
Reasons of Project Selection
Strategic plan
The organization’s strategic plan often defines large, impactful projects that the
organization will undertake as it pursues its medium- and long-term goals.
Vision/Mission
Organizations exist to pursue a mission, and the project could be a critical component
of their future vision.
Market analysis
An analysis of market conditions could indicate that the organization needs to embark
on a project in order to meet market demands.
Prioritizing projects
The decision could be made after the organization performs a detailed analysis of the
pros and cons of each project it has deemed of interest.
Effort-impact analysis
The effort-impact analysis or effort-impact matrix is done to decide which of several
suggested projects or solutions to implement.
Steps to construct the effort-impact matrix:
1. Assemble the list of projects or solutions from previous discussions.
2. Draw a diagram with the effort required to implement the project
or
solution on the horizontal (x) axis. The impact of the solution will be
charted on the vertical (y) axis. Divide the diagram into four quadrants.
3.
Assess the amount of effort and impact for each solution.
Typical variables include:
⊳ Effort
⊳ Impact
4. Place the solutions in the diagram according to these assessments. Use a
symbol, color, coordinates, or label to identify each project or solution.
5.
Results
Steps to construct the prioritization matrix:
1.
List the criteria horizontally at the top of the matrix.
2.
List the projects or solutions from previous discussions on the left
column.
3.
Define a rating scale (e.g., 1 through 5 with 1 being lowest and 5 the
highest). It is usually helpful to not only decide on a scale, but also define
the value for each as well, so there is an understanding and agreement
on the values.
a. Ease of use
Since ease of use is a positive attribute, 1 would define a difficult
to use (or lesser ease of use) product and the scale would move
incrementally to 5, which would denote a very easy to use item. In other
words, as the numbers increase, the ease of use increases.
b. Cost
Since cost is a negative attribute, the scale would be reversed, so
5 would mean a low cost, and you can define what range of monetary
values would define low. 4 would consist of a range of values that is
lower than the previous, implying that the cost is decreasing. Continue the
process to 1, where the cost would be highest, but the rating would be the
lowest.
c. Criticality
Since criticality refers to a quality or condition where the item is
of high importance, as the rating increases, the criticality increases as
well. So, 1 would be of the lowest importance or criticality, while 5 would
mean that it is of the utmost importance.
Project prioritization matrix (1)
4. Using
this L-shaped matrix, read across from the vertical axis and
compare each criterion to each item (i.e., project or solution) on the
horizontal axis. Enter the corresponding value.
a.
A modified approach is to assign a weight to each criterion since not all
criteria are of equal importance. The weights should add to 100%.
b. Each time a value is assigned, multiply that value by its corresponding
weight and record the result.
c.
Total each horizontal row and select the project or solution with the
highest score.
Project prioritization matrix (2)
Project Metrics
Project Metrics
A performance metric measures the activities and performance of an
organization, program, or process. Metrics should support stakeholder needs,
which can be external (e.g., customers, shareholders, and regulators), or
internal (e.g., managers and employees).
Project management performance metrics may include safety, time, cost,
resources, scope, quality, and activities.
Call center performance metrics may include calls answered, calls abandoned,
maximum/ minimum/average wait time, and maximum/minimum/average call
time.
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Key Considerations in Capturing and
Reporting on Metrics
⊳
⊳
Data is easy to collect.
⊳
⊳
Data are collected frequently but not so often that it is overly burdensome.
Everyone involved understands the measurement process and uses
consistent units of measurement.
Data collected makes a difference because it will be used to make
decisions, improve activities, and increase the likelihood of success and
satisfaction of the relevant stakeholders.
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Key Considerations in Capturing and
Reporting on Metrics
⊳
Pursue a balance between the metrics so that achieving one does not
undermine another.
⊳
Factors that can allow or lead individuals to game the system should be
eliminated. This could be the result of establishing goals that cannot be
achieved reasonably. If the goals are perceived as being impossible, it
could result in workers falsifying the metrics in an effort to appear to meet
their targets.
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Project Software
Project Software
Project management software is software used for project planning,
scheduling, resource allocation and change management. It allows project
managers (PMs), stakeholders and users to control costs and manage
budgeting, quality management and documentation and also may be used as
an administration system.
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Project Software
The following are some key features and characteristics that should be kept
in mind when selecting project software:
 Collaborative
 Issue tracking
 Scheduling
 Resource management
 Document management
 Platform
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Thanks!
Hope you learn something 
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