How is a project selected to be worked on?

Question

What will be an ideal response?

Answer 1

Effective organizations select projects based on the project's ability to contribute to one or all three of the following: customer perceived value and satisfaction, the organization's financial strength, or operational necessities. For customer-focused organizations, many projects will be selected based on their ability to increase customer value, satisfaction, and retention. Projects may be chosen in order to enable the organization to maintain its competitive edge. These projects may involve the development of a new product or service or an extension to a product line or the development of a product or service enhancing feature. These projects will ultimately enhance an organization's financial success. Some projects are operational necessities like meeting government regulations or the repair or replacement of aging equipment. Regardless of the reasons behind a project being selected, effective organizations recognize that a project must be financially sound and provide a payback for their investment.

Projects can be identified through the use of customer feedback, internal customer feedback from the people doing the work, competitive benchmarking, existing measures of performance, or costs of poor quality studies. Any gap that exists between desired performance and actual performance is a candidate for a project. Projects should concentrate on a problem area for either the internal or external customer. A focused project will have boundaries and will not be so large as to become unmanageable. Projects have problem statements that are specific, measurable, and identify the gap between the desired and actual performance.