Authors :
Crispin George
Volume/Issue :
Volume 5 - 2020, Issue 3 - March
Google Scholar :
https://goo.gl/DF9R4u
Scribd :
https://bit.ly/2voeFia
Abstract :
Strategic management and project selection
form the bedrock in the alignment of projects with
organizational strategies and objectives. Organizations
that are undertaking projects are putting so much time
and resources to ensure that such projects are successful.
The success of a project starts from idea conception unto
the selection process and the actual implementation of
the project. Taking the wrong approach at any of these
stages can lead to project failure. The selection process
is so prominent in dictating the outcome of the project.
Projects should be seen helping the organization to
achieve its goals and objectives. Therefore, in a situation
where a particular project is not in that direction, then
it becomes clear for management to drop off such
project. In addition, management has limited resources
that should be shared amongst these projects. Thus,
there is the need for project to be selected based on
certain criteria that should be set by the project
selecting committee. The selection of these projects,
helps management to concentrate resources on the ones
that have direct link to the organizational goals and
objectives. In essence, this concept helps management to
prioritize their operations and hence put the
organization in a very good footing to meet their overall
strategic goals.
Keywords :
Senior Management; Profitability Model; Scoring Model; Numeric Model; Nonnumeric Model.
Strategic management and project selection
form the bedrock in the alignment of projects with
organizational strategies and objectives. Organizations
that are undertaking projects are putting so much time
and resources to ensure that such projects are successful.
The success of a project starts from idea conception unto
the selection process and the actual implementation of
the project. Taking the wrong approach at any of these
stages can lead to project failure. The selection process
is so prominent in dictating the outcome of the project.
Projects should be seen helping the organization to
achieve its goals and objectives. Therefore, in a situation
where a particular project is not in that direction, then
it becomes clear for management to drop off such
project. In addition, management has limited resources
that should be shared amongst these projects. Thus,
there is the need for project to be selected based on
certain criteria that should be set by the project
selecting committee. The selection of these projects,
helps management to concentrate resources on the ones
that have direct link to the organizational goals and
objectives. In essence, this concept helps management to
prioritize their operations and hence put the
organization in a very good footing to meet their overall
strategic goals.
Keywords :
Senior Management; Profitability Model; Scoring Model; Numeric Model; Nonnumeric Model.
