Part of a lecture series on fundamental project management concepts, the lecture presents an overview of project selection methods: scoring,benefit contribution, and economic models.
The document discusses project selection techniques and their link to organizational strategy. It describes several quantitative models like payback period, return on investment, and net present value that can be used to evaluate projects. It also discusses qualitative factors and multi-weighted scoring models. The key points are that project selection should align with organizational strategy and priorities, and portfolio management ensures resources are allocated to the most strategic projects.
The document discusses various project selection models that can be used to evaluate and select projects. It describes both numeric and non-numeric models. Numeric models discussed include profitability models like net present value (NPV), internal rate of return (IRR), payback period, and return on investment (ROI). Scoring models are also described, including unweighted and weighted factor scoring models. The advantages and disadvantages of both profitability and scoring models are provided. An example is also included to demonstrate the calculation and use of NPV, IRR, and payback period to evaluate and select between two potential projects.
The document discusses various models and methods used for project selection. It begins by describing non-numeric models such as sacred cow, operating necessity, competitive necessity, and product line extension. It then discusses numeric scoring models including unweighted 0-1 factor model, unweighted factor scoring model, and weighted factor scoring model. Finally, it discusses financial models used for project selection, focusing on models that evaluate profitability. The document provides an overview of different approaches organizations can take when selecting projects.
The document discusses project evaluation and selection methods. It describes the process of determining if projects are worthwhile based on financial and non-financial criteria. Both numeric models that quantify projects financially and non-numeric models that consider wider factors are examined. The purpose, important criteria, and limitations of various project selection models are outlined. Specific methods discussed include payback period, accounting rate of return, and discounted cash flow techniques like net present value. Both financial and non-financial factors to consider in project selection are provided.
About project management, project selection
To select the particular project from several projects through which achieved the organization goals and objectives.
This document discusses various approaches and considerations for project selection. It emphasizes that selecting projects requires balancing risk versus value to make the most effective use of resources. Several approaches are presented, including using checklists, scoring matrices, and assessing value versus risk. Financial, strategic, organizational, technical, and other criteria should be weighed. Project selection is linked to an organization's overall strategic goals and objectives. The key is selecting projects that offer the best returns and outcomes while managing risks.
Part of a lecture series on fundamental project management concepts, the lecture presents an overview of project selection methods: scoring,benefit contribution, and economic models.
The document discusses project selection techniques and their link to organizational strategy. It describes several quantitative models like payback period, return on investment, and net present value that can be used to evaluate projects. It also discusses qualitative factors and multi-weighted scoring models. The key points are that project selection should align with organizational strategy and priorities, and portfolio management ensures resources are allocated to the most strategic projects.
The document discusses various project selection models that can be used to evaluate and select projects. It describes both numeric and non-numeric models. Numeric models discussed include profitability models like net present value (NPV), internal rate of return (IRR), payback period, and return on investment (ROI). Scoring models are also described, including unweighted and weighted factor scoring models. The advantages and disadvantages of both profitability and scoring models are provided. An example is also included to demonstrate the calculation and use of NPV, IRR, and payback period to evaluate and select between two potential projects.
The document discusses various models and methods used for project selection. It begins by describing non-numeric models such as sacred cow, operating necessity, competitive necessity, and product line extension. It then discusses numeric scoring models including unweighted 0-1 factor model, unweighted factor scoring model, and weighted factor scoring model. Finally, it discusses financial models used for project selection, focusing on models that evaluate profitability. The document provides an overview of different approaches organizations can take when selecting projects.
The document discusses project evaluation and selection methods. It describes the process of determining if projects are worthwhile based on financial and non-financial criteria. Both numeric models that quantify projects financially and non-numeric models that consider wider factors are examined. The purpose, important criteria, and limitations of various project selection models are outlined. Specific methods discussed include payback period, accounting rate of return, and discounted cash flow techniques like net present value. Both financial and non-financial factors to consider in project selection are provided.
About project management, project selection
To select the particular project from several projects through which achieved the organization goals and objectives.
This document discusses various approaches and considerations for project selection. It emphasizes that selecting projects requires balancing risk versus value to make the most effective use of resources. Several approaches are presented, including using checklists, scoring matrices, and assessing value versus risk. Financial, strategic, organizational, technical, and other criteria should be weighed. Project selection is linked to an organization's overall strategic goals and objectives. The key is selecting projects that offer the best returns and outcomes while managing risks.
This document outlines steps to establish a hybrid parametric model for project selection and decision making in an organization. The model combines known methods with a weighted scoring approach. Key steps include: collecting project information; defining selection criteria and weights; constructing quantitative indicators; developing decision logic; implementing the model; evaluating results and providing feedback; and ongoing model controlling and improvement. The goal is to reduce biases while capturing important factors for value-maximizing project choices.
Screening models help managers select projects from their pool using various criteria. Effective screening models are realistic, capable, flexible, easy to use, cost-effective, and allow comparability between projects. Approaches to screening include checklist models, simplified scoring models, analytic hierarchy process, profile models, and financial models like net present value, internal rate of return, and options models. Successful project portfolio management requires decision making, prioritization, review, realignment, and flexibility, while implementing portfolio management faces challenges from conservative communities, misaligned projects, unpromising projects, and scarce resources.
The document discusses methods for selecting projects during strategic planning. It describes performing a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Various methods are presented for selecting projects, including focusing on broad organizational needs, categorizing projects, and performing financial analyses like net present value, return on investment, and payback analysis. Weighted scoring models and balanced scorecards are also discussed as tools to provide a systematic process for project selection based on important criteria.
The document discusses project selection, providing two case studies as examples. It explains that project selection involves identifying criteria to evaluate potential projects and prioritizing them. A steering committee is often responsible for project review and selection based on criteria like benefits, feasibility, and alignment with organizational goals. Different selection methods like benefit measurement, constrained optimization, and cost-benefit analysis are used to quantitatively compare projects. Stakeholder input and a transparent selection process are important to the success of the chosen project.
The document discusses the process of project identification and selection. It explains that project identification involves identifying potential solutions to problems based on various factors. There are usually multiple possible solutions, so project identification is about exploring the different alternatives. The key steps in project identification and selection are identifying objectives, conducting a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, brainstorming alternative solutions, and screening ideas against criteria such as costs, risks, and returns.
Narrated copy of "Project Portfolio Selection" presentation made to the PMI Symposium 2008 in Ottawa. Puts forward a scoring model for selecting projects which are best aligned against organizational strategies and goals.
Can be downloaded and listened to.
This document outlines the key steps and considerations for conducting a feasibility analysis of a proposed business idea. It discusses analyzing the marketability, technical viability, funding, and legal issues of an idea. It also covers preparing a business plan and understanding common startup problems. The feasibility analysis process involves evaluating aspects like the investment required, projected costs and profits, break-even point, cash flows, and investment worthiness. It's important to analyze the inputs, throughputs, and outputs of the technical process as well as perform a cost-benefit analysis. Environmental impact, relevant regulations, and procedures must also be considered. The business plan serves as a roadmap and should comprehensively describe the business strategy, competition, finances, operations, and implementation
The document discusses the purpose and importance of a business case for a project. It states that a business case provides justification for a project by outlining the scope, timeline, and resources needed, and what would happen if the project did not proceed. It also explains that a business case establishes the criteria for assessing a project's viability and includes sections on the project mandate, background, scope, and cost-benefit analysis. Finally, it notes that the business case should be updated as a project evolves through its stages and is central to decisions made by the project board.
A feasibility study systematically investigates the viability of a proposed business activity by measuring its potential profitability and assessing viability in all key areas. The study requires careful, scientific planning to independently examine technical, financial, economic, and scheduling aspects so that findings from one area support others. A good feasibility study is comprehensive, objective, simple, and reliable in determining if a project will be viable and profitable not just in the short-term but over its entire lifespan.
The document outlines a 3-step project prioritization process:
1. Projects are ranked based on prioritization criteria including business value, strategic alignment, and probability of success.
2. The projects are analyzed and scored within a framework to determine their relative priorities.
3. The prioritized project list is analyzed to create an optimal project portfolio that fits within budget and resource constraints, and balances investment types, markets, and business objectives. The portfolio is then approved.
A business case is an argument, usually documented, that is intended to convince a decision maker to approve some kind of action. The document itself is sometimes referred to as a business case.
The document provides guidance on developing a business case, including why, when, what, how, and lessons learned. It outlines key components such as executive summary, drivers, methods, impact, risks, recommendations, and post-implementation review. Metrics like NPV, payback period, and IRR are also discussed to evaluate investment effectiveness and compare alternatives. The business case is meant to justify projects and ensure benefits outweigh costs.
The document discusses business feasibility studies, which analyze the viability of business concepts. It explains that feasibility studies are important tools that use market research and analysis to provide stakeholders clear evidence on whether an idea is viable. Only 1-2% of new business ideas are actually viable, so feasibility studies help avoid wasting resources. If a study deems an idea feasible, a full business plan can be developed. The document also compares pre-feasibility studies, business feasibility studies, and project feasibility studies, noting their different emphases based on the final product or project being analyzed.
In this Business Analysis Training session, you will learn developing a business case. Topics covered in this session are:
• Why do we develop Business cases?
• Key components of a Business case
• Importance of identifying Benefits
• Role of the Business Analyst
• How we can integrate Benefits to the business case
• Setting the foundation for the rest of the project
• Questions & Answers
To learn more about this course, visit this link: https://www.mindsmapped.com/courses/business-analysis/business-analysis-fundamentals-with-hands-on-training/
This document provides an overview of modern project management. It defines a project, lists common project characteristics, and gives examples. It also outlines the key stages of the project life cycle: defining, planning, executing, and delivering. Additionally, it discusses the importance of project management, current trends in the field, and covers topics like feasibility studies, project selection, and software/consultancy projects. The document provides definitions and steps for conducting a feasibility study to assess the viability of a proposed project.
Project identification involves determining possible solutions to problems based on factors like objectives, strengths, weaknesses, opportunities, and threats. The objectives of projects may include increasing profits, competitiveness, or providing disaster relief. Strengths can comprise experience, funding, and contacts, while weaknesses may be unfamiliar technologies, limited funding, or untrained staff. Opportunities exist through new technologies, markets, and incentives, but threats include competitors, economic conditions, outdated tools, and evolving offerings. Project identification analyzes these elements to uncover alternative project possibilities.
A summary of Cliff Consulting\'s way of helping clients reduce costs in their project portfolio, while increasing their chances of success in the most critical projects
This document provides an overview of key aspects involved in developing a business case for a project. It discusses what a business case is, its purpose, and key elements that should be included. The document outlines the typical phases and structure of a project, including project strategy and business case development, preparation, design, development and testing, training, support and benefits realization, close, and highlights for each phase. It also covers developing the business case document, including sections on the executive summary, problem statement, analysis, solution options, project description, cost-benefit analysis, recommendations, and things to check before presenting the business case. The overall summary is on developing a strong, evidence-based rationale for undertaking a new project or initiative.
A feasibility study determines the likelihood of success and minimizes risks of a project. It contains five components: market research to identify target consumers and demand; financial research covering capital needs, sales, and break-even points; management research on resources required; schedule determination of time and resources needed; and technical research. It establishes a framework for running a business successfully long-term by showing if a specific project can be profitably implemented. Hiring professional consultants provides an effective feasibility report.
Preparing Your Own Strategic BI Vision and Roadmap: A Practical How-To GuideOAUGNJ
No single organizational initiative warrants preparation, planning and strategy more than the decision to invest in a Business Intelligence (BI) Program. Many organizations make BI one of their priorities because of the organization’s leadership direction. From a strategic perspective, information remains as one of the most valuable assets to an organization. True organizational responsiveness begins with an alignment of organizational strategy to a BI program. You will not want to miss this opportunity to understand the methodology needed to develop a BI Strategic Vision and Roadmap for your organization.
This document discusses various business strategy concepts including situational analysis (SWOT), mission/objectives, alternative strategies, and the impact of the internet. It provides details on SWOT analysis including its structure and uses. TOWS matrix is introduced as a variant that emphasizes external factors. Types of business strategies and the impact/benefits of internet on business are also summarized. Both positive and negative impacts of internet on business are outlined such as new competitors, security issues, and lost productivity.
This document outlines steps to establish a hybrid parametric model for project selection and decision making in an organization. The model combines known methods with a weighted scoring approach. Key steps include: collecting project information; defining selection criteria and weights; constructing quantitative indicators; developing decision logic; implementing the model; evaluating results and providing feedback; and ongoing model controlling and improvement. The goal is to reduce biases while capturing important factors for value-maximizing project choices.
Screening models help managers select projects from their pool using various criteria. Effective screening models are realistic, capable, flexible, easy to use, cost-effective, and allow comparability between projects. Approaches to screening include checklist models, simplified scoring models, analytic hierarchy process, profile models, and financial models like net present value, internal rate of return, and options models. Successful project portfolio management requires decision making, prioritization, review, realignment, and flexibility, while implementing portfolio management faces challenges from conservative communities, misaligned projects, unpromising projects, and scarce resources.
The document discusses methods for selecting projects during strategic planning. It describes performing a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Various methods are presented for selecting projects, including focusing on broad organizational needs, categorizing projects, and performing financial analyses like net present value, return on investment, and payback analysis. Weighted scoring models and balanced scorecards are also discussed as tools to provide a systematic process for project selection based on important criteria.
The document discusses project selection, providing two case studies as examples. It explains that project selection involves identifying criteria to evaluate potential projects and prioritizing them. A steering committee is often responsible for project review and selection based on criteria like benefits, feasibility, and alignment with organizational goals. Different selection methods like benefit measurement, constrained optimization, and cost-benefit analysis are used to quantitatively compare projects. Stakeholder input and a transparent selection process are important to the success of the chosen project.
The document discusses the process of project identification and selection. It explains that project identification involves identifying potential solutions to problems based on various factors. There are usually multiple possible solutions, so project identification is about exploring the different alternatives. The key steps in project identification and selection are identifying objectives, conducting a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, brainstorming alternative solutions, and screening ideas against criteria such as costs, risks, and returns.
Narrated copy of "Project Portfolio Selection" presentation made to the PMI Symposium 2008 in Ottawa. Puts forward a scoring model for selecting projects which are best aligned against organizational strategies and goals.
Can be downloaded and listened to.
This document outlines the key steps and considerations for conducting a feasibility analysis of a proposed business idea. It discusses analyzing the marketability, technical viability, funding, and legal issues of an idea. It also covers preparing a business plan and understanding common startup problems. The feasibility analysis process involves evaluating aspects like the investment required, projected costs and profits, break-even point, cash flows, and investment worthiness. It's important to analyze the inputs, throughputs, and outputs of the technical process as well as perform a cost-benefit analysis. Environmental impact, relevant regulations, and procedures must also be considered. The business plan serves as a roadmap and should comprehensively describe the business strategy, competition, finances, operations, and implementation
The document discusses the purpose and importance of a business case for a project. It states that a business case provides justification for a project by outlining the scope, timeline, and resources needed, and what would happen if the project did not proceed. It also explains that a business case establishes the criteria for assessing a project's viability and includes sections on the project mandate, background, scope, and cost-benefit analysis. Finally, it notes that the business case should be updated as a project evolves through its stages and is central to decisions made by the project board.
A feasibility study systematically investigates the viability of a proposed business activity by measuring its potential profitability and assessing viability in all key areas. The study requires careful, scientific planning to independently examine technical, financial, economic, and scheduling aspects so that findings from one area support others. A good feasibility study is comprehensive, objective, simple, and reliable in determining if a project will be viable and profitable not just in the short-term but over its entire lifespan.
The document outlines a 3-step project prioritization process:
1. Projects are ranked based on prioritization criteria including business value, strategic alignment, and probability of success.
2. The projects are analyzed and scored within a framework to determine their relative priorities.
3. The prioritized project list is analyzed to create an optimal project portfolio that fits within budget and resource constraints, and balances investment types, markets, and business objectives. The portfolio is then approved.
A business case is an argument, usually documented, that is intended to convince a decision maker to approve some kind of action. The document itself is sometimes referred to as a business case.
The document provides guidance on developing a business case, including why, when, what, how, and lessons learned. It outlines key components such as executive summary, drivers, methods, impact, risks, recommendations, and post-implementation review. Metrics like NPV, payback period, and IRR are also discussed to evaluate investment effectiveness and compare alternatives. The business case is meant to justify projects and ensure benefits outweigh costs.
The document discusses business feasibility studies, which analyze the viability of business concepts. It explains that feasibility studies are important tools that use market research and analysis to provide stakeholders clear evidence on whether an idea is viable. Only 1-2% of new business ideas are actually viable, so feasibility studies help avoid wasting resources. If a study deems an idea feasible, a full business plan can be developed. The document also compares pre-feasibility studies, business feasibility studies, and project feasibility studies, noting their different emphases based on the final product or project being analyzed.
In this Business Analysis Training session, you will learn developing a business case. Topics covered in this session are:
• Why do we develop Business cases?
• Key components of a Business case
• Importance of identifying Benefits
• Role of the Business Analyst
• How we can integrate Benefits to the business case
• Setting the foundation for the rest of the project
• Questions & Answers
To learn more about this course, visit this link: https://www.mindsmapped.com/courses/business-analysis/business-analysis-fundamentals-with-hands-on-training/
This document provides an overview of modern project management. It defines a project, lists common project characteristics, and gives examples. It also outlines the key stages of the project life cycle: defining, planning, executing, and delivering. Additionally, it discusses the importance of project management, current trends in the field, and covers topics like feasibility studies, project selection, and software/consultancy projects. The document provides definitions and steps for conducting a feasibility study to assess the viability of a proposed project.
Project identification involves determining possible solutions to problems based on factors like objectives, strengths, weaknesses, opportunities, and threats. The objectives of projects may include increasing profits, competitiveness, or providing disaster relief. Strengths can comprise experience, funding, and contacts, while weaknesses may be unfamiliar technologies, limited funding, or untrained staff. Opportunities exist through new technologies, markets, and incentives, but threats include competitors, economic conditions, outdated tools, and evolving offerings. Project identification analyzes these elements to uncover alternative project possibilities.
A summary of Cliff Consulting\'s way of helping clients reduce costs in their project portfolio, while increasing their chances of success in the most critical projects
This document provides an overview of key aspects involved in developing a business case for a project. It discusses what a business case is, its purpose, and key elements that should be included. The document outlines the typical phases and structure of a project, including project strategy and business case development, preparation, design, development and testing, training, support and benefits realization, close, and highlights for each phase. It also covers developing the business case document, including sections on the executive summary, problem statement, analysis, solution options, project description, cost-benefit analysis, recommendations, and things to check before presenting the business case. The overall summary is on developing a strong, evidence-based rationale for undertaking a new project or initiative.
A feasibility study determines the likelihood of success and minimizes risks of a project. It contains five components: market research to identify target consumers and demand; financial research covering capital needs, sales, and break-even points; management research on resources required; schedule determination of time and resources needed; and technical research. It establishes a framework for running a business successfully long-term by showing if a specific project can be profitably implemented. Hiring professional consultants provides an effective feasibility report.
Preparing Your Own Strategic BI Vision and Roadmap: A Practical How-To GuideOAUGNJ
No single organizational initiative warrants preparation, planning and strategy more than the decision to invest in a Business Intelligence (BI) Program. Many organizations make BI one of their priorities because of the organization’s leadership direction. From a strategic perspective, information remains as one of the most valuable assets to an organization. True organizational responsiveness begins with an alignment of organizational strategy to a BI program. You will not want to miss this opportunity to understand the methodology needed to develop a BI Strategic Vision and Roadmap for your organization.
This document discusses various business strategy concepts including situational analysis (SWOT), mission/objectives, alternative strategies, and the impact of the internet. It provides details on SWOT analysis including its structure and uses. TOWS matrix is introduced as a variant that emphasizes external factors. Types of business strategies and the impact/benefits of internet on business are also summarized. Both positive and negative impacts of internet on business are outlined such as new competitors, security issues, and lost productivity.
This document describes a chemistry project analyzing the contents of different brands of cold drinks. Tests were performed to detect the presence of glucose, carbon dioxide, phosphate, alcohol and sucrose. The pH was also measured. Results showed all drinks contained these components, though amounts varied between brands. Coca Cola had the lowest pH, making it the most acidic. Sprite had the most carbon dioxide while Fanta had the least. The project concluded by discussing both the disadvantages and uses of cold drinks.
A new successful project -lamp product--wit moldBeta Jiang
WIT MOLD just successfully finished one lamp mold! This is a lamp product with mirror polish.. As the part is clear, any welding line and defects can not be accepted. So we pay close attention to the machining and polishing to ensure the accuracy of every machining process is within tolerance.
After 3 mold trials, we got the good samples. The customer is very satisfied the samples and our professional work and the mold was shipped before the new year holiday. After getting the approval by customer, here we share some info. with you. Hope you can know more our good capability in mold making.
Any interest, please contact: bjiang@witmold.com
Successfully Achieving And Delivering ResultsThrough Rigorous Project Select...shawncarner
This document discusses the need for rigorous project prioritization tools and processes at Genentech and provides examples of project prioritization approaches used at different sites within Genentech. It highlights the benefits of standardized, transparent prioritization processes, including better use of resources, managing change capacity, and increased understanding and quantification of project impacts. Examples of prioritization tools and processes currently used at different sites are presented, along with next steps to further improve and standardize prioritization across sites.
iZenBridge's PMP® Math Series: Project Selection : PV , NPV, IRR, BCR and Pay...Saket Bansal
Video of this presentation can be found at :
http://youtu.be/yIMMy8hh0WQ
In this presentation we have introduced some of the techniques used while performing project selection, we have seen people getting questions related to PV, NPV , IRR , BCR and Payback period in their PMP exam.
Project Selection falls under Project Integration Management Knowledge Area and it get executed before Project Charter get prepared.
The document discusses project selection processes in Latvia for regional development projects. It provides examples of selection criteria used for various types of projects, including insulating houses to reduce energy consumption, establishing internet access points, paving roads, wastewater treatment, and developing separate waste collection points. Selection criteria assess how well projects meet specific policy targets and contribute to an integrated approach for balanced territorial development.
New Product Development Project - Meal kitChau Pham
The document outlines a market analysis and business plan for a new meal kit product called Pure Creations. It found that women aged 24-34 with high incomes and careers are the primary target segment as they value convenience and healthy options. The meal kits will provide organic, pre-portioned ingredients for exotic dishes in single-serve packets. Financial projections estimate over $100,000 in monthly sales within a year of launching through guerrilla marketing events and social media campaigns targeting busy professional women.
ETIS10 - BI Governance Models & Strategies - PresentationDavid Walker
The document discusses business intelligence (BI) governance models and strategies. It defines BI governance and outlines key components of a BI governance framework, including the executive steering committee, programme management, user forums, certification committees, project management, implementation teams, and exploitation teams. It also discusses the importance of data modeling, data quality, data warehousing development, and data security and lifecycle management processes to a well-governed BI program.
The document provides questions about Dale Carnegie's book "How to Win Friends and Influence People" and asks how to influence others and react if wronged. It then discusses a story where a mechanic made a mistake on an airplane and how Mr. Bob Hoover reacted in a way that influenced the mechanic. Theories on teaching reading are also discussed, including features of the top-down approach to reading.
The document discusses the process for identifying and selecting projects for black belts. It provides criteria for project selection such as the problem being related to key business issues and having organizational support. It also describes documenting potential projects with a project charter that includes details like the customer and process owner. Project ideas are evaluated based on their estimated financial impact and strategic importance to prioritize resources.
Hasan Shameem is the Legal Counsel for Coca-Cola Pakistan & Afghanistan Region. He is responsible for ensuring the company's compliance with local and international laws and policies, and handling any legal claims involving the company in the region. Hasan recently joined Coca-Cola after graduating from the University of Bristol in 2007 with an LLB degree. Prior to this role, he worked as a legal counsel assistant.
Bottom-up and top-down models describe two approaches to reading. Bottom-up processing focuses on individual letters and words and proceeds from parts to the whole, like the phonics approach which teaches letter-sound relationships. Top-down processing emphasizes using context and prior knowledge to understand texts as a whole before analyzing individual parts, like the whole language approach. Both approaches have benefits for different types of learners.
The document discusses the marketing planning process at different levels of an organization. It describes the steps in planning including analyzing opportunities, developing strategies, and allocating funds. Planning occurs at the corporate, division, business unit, and product levels. The key aspects of planning at each level are defined, such as establishing strategic business units and assessing growth opportunities at the corporate level. Product planning develops individual marketing plans within the overarching plans of higher levels.
This document discusses forming a project team and identifying the key roles needed. It describes a project as a unique, temporary endeavor undertaken to achieve a desired outcome. There are three main interests in a project - the business interest, user interest, and provider/supplier interest.
The document recommends having the following key roles to represent each interest: a sponsor/executive to represent the business interest; one or more senior users to represent the user interest; and one or more senior suppliers to represent the provider/supplier interest. It also recommends having a project manager to facilitate the work and manage the project day-to-day. Appointments to these roles should consider the individual's availability, competence, viewpoint, credibility, and
Portfolio Management involves three key steps:
1) Defining investments and selecting/prioritizing projects based on their strategic contribution and other criteria.
2) Periodically reviewing the portfolio to ensure projects are delivering benefits and align with changing strategies. Failing projects may be stopped.
3) Balancing the portfolio by optimizing the mix of investments against the organization's capacity and goals. This allows adapting to a changing business environment.
The Project Management Process - Week 2Craig Brown
This document discusses various aspects of project and portfolio management. It covers strategic planning, identifying projects, project proposals, selection methods, and factors that contribute to project success. Key points include the importance of aligning projects with organizational strategy, using techniques like cost-benefit analysis and weighted scoring to select projects, and how project management processes have improved over time, leading to higher success rates.
The document discusses project selection and portfolio management. It covers identifying potential projects, evaluating project proposals, and selecting projects using various methods like financial analysis and weighted scoring models. The goal is to choose projects that are strategically aligned and will contribute to the organization's objectives and mission. Project portfolio management helps prioritize projects, allocate resources efficiently, and balance risk across all initiatives.
Project managers need to understand their organization's strategic management process to ensure projects are properly aligned. This involves responding to changes in strategy, environmental factors, and resource allocation. A project portfolio system can help by classifying projects, using financial and strategic selection criteria, and managing the portfolio to reduce issues like the implementation gap and organizational politics. Project proposals are evaluated and prioritized using tools like weighted scoring models to select those that best achieve organizational goals.
Project managers need to understand their organization's strategic management process to ensure projects are properly aligned. This involves responding to changes in strategy, environmental factors, and resource allocation. A project portfolio system can help by classifying projects, using financial and strategic selection criteria, and managing the portfolio to reduce issues like the implementation gap and organizational politics. Project proposals are evaluated and prioritized using tools like weighted scoring models to select those that best achieve organizational goals.
Building Project management Value through Strategic Alignmentfadisamara
The document discusses building project management value through strategic alignment and professional development. It defines key project management terms like portfolio, program, and project based on PMI definitions. It presents models for putting these concepts together, including a high-level project portfolio management model and a detailed project portfolio management process model. It also discusses implementing project management while demonstrating value through a phased approach and outlines how to know when project management has succeeded in an organization.
New Product Development was a 3-day public workshop for managers offered for many years through what is now UW-Madison’s Center for Professional and Executive Development (CPED). Since CPED has modified its mission to focus on leadership and management training, this and other marketing classes have been discontinued. Therefore I am providing this for your individual education.
A version of this presentation with embedded hyperlinks to YouTube videos and other educational sites is available through my website, BrainSnacksCafe.com.
Enjoy!
This document discusses conducting an appraisal of an organization's business development capabilities using the Business Development Capability Maturity Model (BD-CMM). It outlines the key activities involved in a BD-CMM Quick Start appraisal, including a training workshop, conducting an appraisal survey, reviewing documentation, performing interviews, and conducting case studies. The goal is to assess the organization's current maturity level against the BD-CMM, identify gaps, and inform an improvement plan to advance capabilities over time.
The document discusses establishing a project management office (PMO) to standardize project management practices, provide training and career development for project managers, and help align projects with business strategies. Key elements of an effective PMO include establishing governance over project selection and decision making, using a standardized project management process with stage gate reviews, implementing supporting tools and templates, and promoting continuous improvement of processes.
Gavin Berry's post project review document summarizes the need for and benefits of conducting post project reviews. It discusses how past research has shown that the majority of projects do not achieve their intended benefits or are unsuccessful. While project management practices have improved over the past decades, measuring and achieving business benefits has lagged. Post project reviews are identified as a key missing element to help ensure projects deliver intended benefits. The document provides guidance on when reviews should occur, what inputs they should include, and how to conduct effective reviews. Case studies are also offered to demonstrate reviews from an organizational perspective.
Scaling Your Capture and Proposal Management Processes to Fit Your CompanyLohfeld Consulting Group
By examining implementations of capture and proposal management processes in large, mid-tier, and small businesses highlights how the right processes can increase efficiency. Learn the factors needed to assess your processes and receive a road map to scale these processes to your needs.
PM for Enterprise Software by Google Product LeaderProduct School
Main takeaways:
-Developing a strong relationship with sales
-Experimentation for enterprise products
-Roadmap development - Crafting your product vision
This document discusses project, program, and portfolio management processes and checklists. It addresses how a project management office, program management office, and portfolio management office can help organizations answer key questions around costs, redundancy, cross-functional alignment, change impact, and leveraging existing investments. It provides an overview of processes and frameworks for program and portfolio management including workshops, risk management, governance, and realizing business benefits. Checklists are also included for project initiation, planning, execution, control, and closure.
Portfolio Rationalization - Making Sound Financial and Strategic Decisions in...Robert Greiner
This presentation outlines a methodology and set of frameworks useful for making strategic product portfolio rationalization decisions in times of uncertainty intelligently and quickly (rapid vs. rushed) regardless of organization size.
Additionally, we provide thoughts and ideas around the current emergent state of the world & market due to COVID-19 and how organizations can effectively navigate through three key phases.
Product Developmentbest Practices And Assessmentahmad bassiouny
The document discusses product development best practices and assessment. It describes a multi-year effort led by DRM Associates to identify best practices through research and site visits to top companies. These best practices were organized into categories and used to develop an assessment methodology to help companies evaluate their processes, identify gaps, and develop improvement plans aligned with their strategic objectives. The assessment approach provides a framework to benchmark against industry and focus improvement efforts on high-impact areas.
This guide is developed to provide a structured approach for conducting a high quality competitive analysis.
It provides a detailed approach and methodology for competitor assessment in five key topic areas:
- business/portolio overview
- management and people
- product/service and technology
- cost structure and operations
- marketing and sales
The competitor and information analysis is divided into several steps:
- develop internal cost model and capability baseline
- conduct competitor data collection and synthesis
- evaluate size and nature of competitive differences
- assess potential competitor strategies and implications
Each steps contain detail description of activities, examples, and tools used.
The document also includes an interview guide for the user to jump-start the process.
gazhoo.com
The document summarizes an agenda for presenting SAP to projects. It discusses current business and IT challenges, why companies implement SAP, critical success factors for a SAP implementation, an example SAP implementation method and risk management approach, and a typical SAP implementation timeline. Key points include the flexibility and integration of SAP, the need for executive buy-in, a well-defined project roadmap and milestones, and mapping implementation phases to the ASAP methodology.
The document discusses strategies for maximizing value from mergers and acquisitions (M&A) and managing innovation portfolios. It outlines challenges with M&A integration and portfolio management. Key steps in the M&A process are described, from due diligence to post-acquisition integration. Effective portfolio management involves gaining visibility, aligning investments, prioritizing projects, and developing execution discipline. Tools and approaches can help address common issues and improve the ability to create value through M&A and innovation portfolios.
This document provides an overview of a presentation on delivering competitive exports when exchange rates are equal between currencies. It discusses idea generation and product development processes. It emphasizes strategic alignment of business priorities with opportunities through identifying customer needs and formulating strategies. A product-market matrix outlines different strategies like market penetration, development, product development, and diversification. Effective project management is key to avoiding downward spirals from issues like poor prioritization. A phase-gate product development process and portfolio management are presented as tools to manage projects and resources effectively.
Similar to Example Project: Strategic Project Selection and Accelerated Development by John Thornton CleanFuture (20)
CHP / Cogeneration As An Alternative Energy ResourceJohn Thornton
Combined heat and power (CHP), also known as cogeneration, is the concurrent production of electricity and useful thermal energy from a single energy source. It provides higher efficiency than separate generation by capturing heat that would otherwise be wasted. CHP can reduce energy costs for facilities that have thermal loads throughout the year, such as hospitals, universities, and manufacturing plants. Analysis shows the technical potential for CHP in the Pacific Northwest is over 15 gigawatts, which could save money while lowering emissions. CHP may be a good option for facilities interested in reducing energy use and environmental impacts.
Energy and Productivity Workshop for Competitiveness: Energy Intensity_John T...John Thornton
The document summarizes an energy and operations efficiency workshop for Idaho food processors. It discusses measuring and establishing an energy intensity baseline for the food processing industry. The baseline found the median energy intensity in 2009 was 1,906 BTUs per pound of product. It also describes pilots to provide food processors access to energy data and conduct energy mapping and assessments to identify efficiency opportunities.
Energy Storage and the Smart Grid TiE Oregon Clean Energy Special Interest Gr...John Thornton
Energy storage is increasingly perceived as a necessary and vital component of any future smart grid, yet meaningful energy storage is still a scarce and missing component.
The discussion on April 21st will focus on:
• Value chain elements of the energy storage industry
• Who are local champions of energy storage
• What are the interests of the investment community
• What does the policy and regulatory framework look like
• How do customers value energy storage
Join our panel to better understand the technologies, trade-offs, market segments and future potential of energy storage.
Energy storage and_the smart_grid-oregon_ti_e_clean_energy_special_interest_g...John Thornton
The document summarizes a presentation given by John Thornton of CleanFuture on energy storage and the smart grid. It provides an agenda for the presentation which includes discussions on energy storage applications and opportunities in energy storage and smart grid from representatives of Intel Capital, Stoel Rives, and Supercritical Storage. Many US states have adopted renewable portfolio standards to source a certain percentage of energy from renewable sources by specific deadlines. Energy storage can help integrate renewable energy sources into the electric grid by storing intermittent renewable energy for later use. The presentation discusses different energy storage technologies and their applications, as well as the capital costs and locational value of energy storage.
Solutions For Sustainability (a framework) CleanFuture John A ThorntonJohn Thornton
The document presents John Thornton's framework called "Solutions for Sustainability" which takes a systems approach to achieving sustainability. The framework addresses equity, energy/economy, and environment. It involves convergence of industries like transportation electrification with electric vehicles, urban planning with transit-oriented development, and energy efficiency with renewables. The goal is to create integrated solutions that consider mobility, buildings, energy, and communities in a holistic way.
EV Roadmap_Oregon-Driving-Patterns_Planning Data_John Thornton Clean FutureJohn Thornton
The document discusses a breakout group meeting to plan electric vehicle charging infrastructure in the Willamette Valley and Puget Sound corridor. It provides background data on how far and where people in the region drive. The group was assigned to create a hypothetical placement plan for charging stations and discuss regional coordination and policy recommendations. They were tasked with designing an integrated charging network from Eugene to Seattle and considering partnerships with neighboring areas.
The Convergence Of Transport, The Built Environment And The Smart Grid by Joh...John Thornton
The document discusses the convergence of transportation, the built environment, and the smart grid with a focus on electric vehicles (EVs) and their role in grid modernization. It notes that EVs could drive faster adoption of smart grid technologies and help integrate more renewable energy. The document outlines various EV and charging scenarios and how vehicles could provide grid services like frequency regulation through vehicle-to-grid technologies. It presents a case study of a potential smart grid community and concludes that smart charging is needed before vehicle-to-grid can become widely viable.
Transportation and Sustainability: EVs and the SmartGrid JohnThornton CleanFu...John Thornton
The document discusses how electric vehicles (EVs) and smart grid technology can help increase sustainability. EVs can reduce environmental impacts by using electricity, which can be generated from renewable sources, instead of gasoline. A smart grid allows electric utilities to manage electricity flow to and from EVs in a way that integrates renewable energy and reduces strain on the grid during high demand periods. Widespread adoption of EVs could create new jobs and businesses related to smart grid integration and clean vehicle technologies.
Perspectives on the Future of Transportation and Sustainability: The Importa...John Thornton
The document discusses the benefits of electric vehicles (EVs) and Oregon's role in the emerging EV industry. EVs can help address issues like air quality, land use, population growth and fuel prices. They use electricity as a flexible energy source that can come from renewable resources, reducing emissions over time. Oregon is well positioned in the EV market as an early adopter of advanced transportation technologies. The presentation outlines the benefits of EVs and barriers to widespread adoption that new technologies and infrastructure may help address.
Transforming Supply Chains into Sustainability CirclesJohn Thornton
Transforming Supply Chains into Sustainability Circles
International Conference on Business and Sustainability: Designing Sustainability
Portland, Oregon USA
October 15-17, 2008
www.bizandsustainability.org
(public version)
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
9/25/98 New product development is vital to the success and future prosperity of the modern firm. Driven by rapidly advancing technologies, globalization of markets, and increasing competition at home and abroad, effective new product develop is emerging as the major corporate strategic initiation of the decade ahead. Increasing need for successful significant winning new products. The purpose of this project is to develop a methodology for ensuring strategic alignment between corporate strategy and the product development pipeline.
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9/25/98 Q1 - A1 Resource allocation to achieve corporate new product objectives. Much like stock market portfolio managers, those senior executives who mange to optimize their R&D investments - to define the right new product strategy for the firm, select the winning new product projects, and achieve the ideal balance of new projects, - will win in the long run. A2 - That is, which new product projects from the many opportunities the corporation faces will it fund? And which ones will receive top priority and be accelerated to market? It is also about business strategy , for today’s new product projects decide tomorrow's product/market profile of the firm. A3 - Finally, it about balance; about the optimal investment mix between risk versus return, maintenance vs. growth and short-term vs. long-term new product projects. Short-term, moderate results vs. long-term high opportunity (may or may not be high risk) Product line extensions vs. new products (innovations), new markets, new niches
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9/25/98 Portfolio management is a dynamic decision process , whereby a business’s list of active new product (and R&D) projects is constantly updated and revised . In this process, new projects are evaluated, selected, and prioritized : existing projects may be accelerated, killed, or deprioritized; and resources are allocated and reallocated to the active projects. The portfolio decision process is characterized by uncertain and changing information, dynamic opportunities, multiple goals and strategic considerations, interdependence among projects, and multiple decision-makers and locations. The portfolio decision process encompasses or overlaps a number of decision-making processes within the business, including periodic reviews of the total portfolio against each other (looking at the entire set of projects, and comparing all projects against each other); making Go/Kill decisions on individual projects on an ongoing basis; and developing a new product strategy for the business, complete with strategic resource allocation decisions. p3
9/25/98 First, a successful new product effort is fundamental to corporate success . Recognition of the need for new products, especially the right new products . This translates into portfolio management: the ability to select today’s new projects that will become tomorrow’s new product winners. Second, new product development is the manifestation of the business’s strategy . That is, one important way a company operationalizes strategy is through the new products that it develops. If its new product initiatives are wrong, then the company fails at implementing its business strategy. The new product choices it makes today define business tomorrow. Third, portfolio management is about resource allocation . In a business world preoccupied with doing more with less, technology and marketing resources are simply too scarce to allocate to the wrong projects. The consequences of poor portfolio management are evident: the firm squanders its resources on the wrong projects. As a result, the best projects may be starved. 107-108
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9/25/98 Risk vs. return new markets vs. maintenance long-term vs. short-term strategic vs. tactical Analogy of an investment fund fund manager seeks balance in terms of high-risk vs.. blue chip stocks, domestic versus foreign investments and balance across industries in order to arrive at an optimally diversified investment portfolio. One way of managing risk is through diversity of investments
9/25/98 Portfolio management - the selection and prioritization of specific projects - must be very closely tied to business’s strategy. Strategic alignment has two meanings, with subtle but important differences: First, portfolio management must ensure strategic fit - that all projects are on-strategy and consistent with the strategic direction of the business. For example, senior management defines the arenas of focus or area of strategic thrust - the product, market, and technology areas on which to focus - and then selects projects only within these boundaries. Second, and most important, portfolio management must allocate spending across projects so as to mirror the strategy of the business. For example, if the business’s strategy is very much a growth one, then the majority of spending should be on business and market development projects, rather than on “maintain the business” projects. Or if management has defined certain areas of strategic thrust - for example a certain market or technology - then a heavy percentage of spending ought to be on projects in these areas. Business Planning pyramid, relationship to Top down / bottom-up approach