GMS 450 Chapter Notes - Chapter 1: Project A, Call Option, Real Options Valuation
27 Jan 2017
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Chapter 1: the world of project management part 2. Project selection is the process of evaluating projects or groups of projects and then choosing to implement a set of them so that the objectives of the parent organization are achieved. The project is subject to approval by a formal selection process. There are different methods for selecting projects, but they may be grouped into two fundamental types, nonnumeric, and numeric. 1 . the sacred cow - ceo suggests a potential product or service that the organization might offer to its customers. Take a look at it and see if it looks sensible, if not we"ll drop the whole thing . It becomes the sacred cow regardless of project selection the project will be approved: the operating / competitive necessity - this method selects any project that is necessary for continued operation of a group, facility, or the rm.
