Ensure that the project aligns with your organizational strategy.
Why is it so important that organizations select the right projects in the first place? If a prospective project is simply a good idea – or more problematically, someone’s pet project – it’s unlikely to survive. For this reason, you need to make certain that the prospective project aligns with your overall organizational strategy.
Again, it’s important that all key stakeholders are in the room, and that they’re familiar with your overall strategy. With your strategy as a guide, identify where each project might meet multiple organizational goals. One way to measure the efficacy of a project is using a two-by-two matrix.
On one axis, chart the project’s ease of implementation. On the other, chart its anticipated impact on organizational goals. Without this comparative tool, your effort on a project might ultimately outweigh impact. But by using this framework, you can select the projects that will make the biggest difference.
Prince Patel
ref- https://www.bigskyassociates.com/blog/project-selection-5-things-every-organization-should-consider
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