GMS 450 Lecture Notes - Lecture 2: Monte Carlo Method, Corporate Finance, Old Japanese

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 450
• Professor: Mohammad Nikoofal

Document Summary

Although every project begins with a proposal, not every proposal becomes a project. Project selection is process of evaluating projects and choosing them so firm objectives are met. Ensure that several conditions are considered: 1. Does firm have the skills to complete the project: 4. Does it have capacity to carry out the project: 5. Projects are selected based on qualitative and/or quantitative models. Multiple criteria may be applied until the team is satisfied that all selected projects align with the overall business strategy. Projects can be categorized as one of the following: compliance, emergency. Compliance: projects that are essential to meet new requirements imposed by internal and external entities. Internal entities may be executive management: external entities may be government regulations and requirements, (cid:862)must do(cid:863) proje(cid:272)ts; if (cid:374)ot i(cid:373)ple(cid:373)e(cid:374)ted, (cid:373)a(cid:455) fa(cid:272)e pe(cid:374)alties. E(cid:373)erge(cid:374)(cid:272)(cid:455): proje(cid:272)ts that are (cid:374)eeded to (cid:373)eet e(cid:373)erge(cid:374)(cid:272)(cid:455) (cid:272)o(cid:374)ditio(cid:374)s; (cid:373)a(cid:455) (cid:271)e (cid:862)(cid:373)ust-do(cid:863) projects, if not implemented, organizations may not be fully operational to fulfill their core competencies.