Methods for determining project selection thresholds
Anonymous
I am developing a project selection process and have completed the scorecard but need some advice regarding methods others have used to determine your company's thresholds for approving/rejecting a project. Any advice is greatly appreciated. Saving Changes...
Mark Price PerryBusiness Driven PMO Evangelist| BOT InternationalOrlando, Fl, United States
Typically, the project selection process includes the method to determine the company's threshold for approving/rejecting a process, as well. If this is not included, you may end up with a project request process instead. In support of your department and line of business sponsors, you might consider the following as part of your project selection process. 1) Project Request Consultation, 2) Joint Business Case Preparation, 3) Joint Presentation to the management authority / executive steering committee, and 4) Continuous Improvement of the project selection process. Often times, thesholds for approving or rejecting a project can be identifed clearly as part of the scorecard. Common "do-ability" thresholds include such things a cost, resource dependencies, and time. Other threshholds can be used as well and they may change over time as priorities for the business change. Hence, it is important to ensure that you project selection process provides for and clearly describes all activities and tasks required to "select" the project and that your project selection process includes a Continuous Improvement (post project selection process step) to assess the effectiveness of your project selection process, document process and/or performance defects, and identify and propose solutions for the improvement of the process. Hope this helps. -- Mark Perry, Vice President of Customer Care, BOT International Saving Changes...
