Lecture on Project Selection
Subject: Management | Topics:

Project selection is the process of evaluating individual projects or groups of projects, and then choosing to  implement some set of them so that the objectives of the parent organization will be achieved.

Unweighted 0-1 Factor Model

A set of relevant factors is selected by management and then usually listed in a preprinted form.
One or more raters score the project on each factor, depending whether or not it qualifies for an individual criterion.
The criteria for choices are:
A clear understanding of organizational goals.
A good knowledge of the firm’s potential project portfolio.
Advantage of this model is that it uses several criteria.
Disadvantages are that it assumes all criteria are of equal importance and it allows for no gradation of the degree to which a specific project meets the various criteria.

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