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Project Selection Criteria
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Project Selection Criteria
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Table of Contents
1.
INTRODUCTION ........................................................................................... 1
1.1.
1.2.
2.
Purpose ........................................................................................................ 1
Audience ...................................................................................................... 1
PROJECT SELECTION ................................................................................ 2
2.1.
2.2.
Document #
Project Definition .......................................................................................... 2
2.1.1. Project Categorization ..................................................................... 2
2.1.2. Project Prioritization ........................................................................ 2
Project Acceptance....................................................................................... 2
2.2.1. Business Criteria ............................................................................. 2
2.2.2. Logistical Criteria............................................................................. 2
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1. INTRODUCTION
1.1.
Purpose
The purpose of this Project Selection Criteria document is to specify the
key project characteristics and defining metrics which will be used to allow
an informed business decision on the validity of the project initiative.
1.2.
Audience
This document is intended for enterprise executive and potential
stakeholders in the project outcomes.
Author Instructions
Text in italics, such as this paragraph, contains instructions and
information that is intended to give you guidance on what to insert as
content. It is not meant to be part of the content itself. Delete the
italicized lines before submitting the deliverable as final. Non-italicized
text may be used verbatim at your discretion.
The deliverable author is to complete each section with the required
information, as instructed in the italicized text.
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2. PROJECT SELECTION
2.1.
Project Definition
Outline the parameters and dimensions which characterize a “project”
within your enterprise. The following sub-sections provide guidelines on
what to include in your document.
2.1.1. Project Categorization
Outline the generally accepted project categories, if they exist, such as:
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Mega-Project – multi-year, enterprise-impacting, big budget (largest
percentage of total development budget)
Large Project – multi-phased, cross functional, approximately one
year duration, multi-million dollar budget
Medium Project – more than half million dollar budget, 6 – 8 months
duration
Small Project – project team less than a dozen, less than 6 months,
lowest percentage of total development budget
2.1.2. Project Prioritization
Summarize the rules exercised by your enterprise to rank the criticality of
projects. If no rules have been explicitly defined for your organization,
refer to your company mission statement for high level objectives.
Generally speaking, projects which address your company’s goals, or
those which protect them from business risks or competition, will have
high priority.
2.2.
Project Acceptance
Outline the criteria for accepting a project as a candidate for investment.
2.2.1. Business Criteria
List the economic parameters and their threshold values for project
acceptance, such as:
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Proposed Budget
Pay Back Period
Net Present Value
ROI – Return On Investment
2.2.2. Logistical Criteria
List other non-quantified considerations for project acceptance. This
includes strategic initiatives, such as market horizontal expansion, or
business imperatives such as regulatory compliance.
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