Narrowing the field
The most important element in good project selection is simply realizing it's not possible to pursue every project that has been identified. This article discusses how organizations can improve their project-selection process. In doing so, it identifies the most important element in good project selection--realizing it's not possible to pursue every project that has been identified--and notes how this recognition never occurs. It explains why the recognition never happens and lists several causes. Next, the article details how organizations should select the projects that are priorities, and then it explains financial justification. It concludes by listing seven "soft" benefits promised by projects and identifying six nonfinancial criteria that can be incorporated in a good project-selection process.