organization strategy and project selection
1. The Strategic Management Process: An Overview A. Four Activities of the Strategic Management Process
2. The Need for an Effective Project Portfolio Management System A. Problem 1: The Implementation Gap B. Problem 2: Organizational Politics C. Problem 3: Resource Conflicts and Multitasking
3. A Portfolio Management System A. Classification of the Project B. Nonfinancial Criteria
4. Applying a Selection Model A. Sources and Solicitation of Project Proposals B. Ranking Proposals and Selection of Projects
5. Managing the Portfolio System A. Balancing the Portfolio for Risks and Types of Projects
7. Key…show more content…
6. Why should an organization not rely only on ROI to select projects?
Financial criteria, like ROI alone, will not ensure that selected projects contribute to the mission and strategy of a firm. Other considerations such as developing new technology, public image, brand loyalty, ethical position, and maintaining core competencies should be considered. Furthermore, it is difficult or next to impossible to assess ROI for many important projects (e.g., Y2K projects). While ROI is likely to be a key consideration for many organizations, multiple screening criteria are recommended for selecting and prioritizing projects.
7. Discuss the pros and cons of the checklist versus the weighted factor methods of selecting projects.
Checklist Model • Flexible • Applies over a wide range of different types of projects, divisions, and locations • Impossible to rigorously compare and rank project by priority • Politics, power, and manipulation of project selection is very possible.
Weighted Factor Model • Allows comparison and ranking of potential projects • Open system • Allows for self evaluation of proposed project • Power and politic games are exposed.
1. You manage a hotel resort located on the South Beach on the Island of Kauai in Hawaii. You are shifting the focus of your resort from a traditional fun-in-the-sun