Evaluation Of A Project Proposal Essay

Evaluation Of A Project Proposal Essay

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One of the biggest decisions organizations have to make is related to the projects they agree to undertake. Once a project proposal has been submitted to the organization, there are many factors that need to be considered before the project is approved to begin. The selection process is a process to assess each project idea and select the project with highest priority. It can be simple or more involved depending on what the organization uses a method for selection. Choosing a project using the right method is therefore of the greatest importance.
Nonnumeric models are from earlier days of project management and are considered to be simpler than other methods. When looking into nonnumeric models and the characteristics that an organization would use these selection models for are things like operating necessity, competitive necessity, creating new product line items, and executive’s new great passion or simply deciding to move on one project over another because they are not comparable in terms of outcomes.
The models named in the nonnumeric model selection actually define the method without much more explanation needed: The sacred cow, operating necessity, competitive necessity, product line extension, comparative benefit model and sustainability. The defining features and reasoning behind nonnumeric models is not always clearly defined. These characteristics are loose in the fact that there is not really a scientific way to rate them for viability, profitability or outcomes.
The nonnumeric models have advantages of simple criteria for approval, they are goal oriented, are listed as primary concerns of the organization and have the backing of organizational leaders. Disadvantages of the nonnumeric model are there are no...

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...s described are essential for efficient business planning. As stated by Vandersluis (2001) “the reasoning as to why most projects fails is that companies tend to get involved in projects that are out of their league or they have no process for determining the appropriateness of taking on a project or not.” Having a good plan in the beginning, with clearly defined objectives will help guide organizations through successful business projects. The methods described can be carried out in various combinations. It is in the organizations best interest to try different methods that meets their needs and able the organization to make the most informed decisions while considering a wide range of factors rather than concentrating on just a few. Careful consideration in project selection, no matter what method is used, will go far in making organizations more successful.

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