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Project managers can choose from a
relatively large number of project priority and selection
models. Picking a selection model is highly dependent on
certain organizational attributes such as industry, risk
aversion level, technology, competition, management style, and
markets.
Selection models should encompass multiple
criteria such as profitability, researching new technology,
public image, core competencies, and strategic fit.
Did you miss Part
1?
This two-part series
kicked off with a discussion of why
effective project management starts with selecting and
prioritizing projects that support your organization’s
mission and strategy.
The selection process
It is
a rare case when project managers "must" select a project. If
a project falls in the "must" category, project managers
sometimes ignore all other selection criteria, putting the
project at risk. The question is: When does a project fall
into the "must" category? The answer is: when the majority of
the project stakeholders agree that the project is crucial and
needs to be implemented. There is no other choice but to
implement the project in order to ensure the continuity of the
organization. For all remaining projects, use multiple
selection criteria, which link the project to the
organizational strategy.
Proposals
screening
Proposals for projects come from internal
and external sources. In most situations, organizations have
more proposals on hand than they can pursue. These proposals
have to go through a screening process (See Figure
A).
| Figure A |
 |
| Here is a screening process used by
one of my clients. |
The
prerequisites for implementing an effective screening process
are:
- Publishing of the selection criteria so that
self-evaluations are carried out by sponsors before they are
submitted to the priority team.
- Publishing guidelines and templates for developing a
business case, which will facilitate the evaluation process
by the priority team.
The
priority team
In order to implement an effective
project priority and selection process, you need to clarify
the roles and responsibilities of the priority team. The
project priority team is responsible for:
- Evaluating project proposals on the basis of the
selection criteria.
- Accepting or rejecting proposals.
- Publishing the score of each proposal and ensuring the
process is open and free.
- Balancing the portfolio of projects for the
organization.
- Evaluating the progress of the projects in the portfolio
over time.
- Reassessing organizational goals and priorities if
conditions change.
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