Project Selection Methods and PMBOK for Nestle

PROJECT MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Project Selection is a process to assess each project idea and select the project with the highest
priority. Nestle is a Swiss Multinational food and drink processing cooperation headquartered in
Vevey, Vaud, Switzerland. It is the largest food company in the world. This report highlights
different selection method which can be used by the company to select the project for the
company. After that the report goes on to highlights the concept of PMBOK and the area which
need to be looked by the Nestle. In the end report highlights the different Project management
knowledge which need to be looked by the Nestle.
MAIN BODY
As Nestle is looking to Introduce Chocolate drink in the market as there is good trend of the
same there are many project selection method which is in front of the Nestle. Project Selection is
a process to assess each project idea and select the project with the highest priority. Some of the
common selection method which can be used by the Nestle is Benefit Measurement Method,
As every organization which used to select the project always select the project which can give
the maximum amount of written to the organization (Kaiser, El Arbi and Ahlemann, 2015). This
selection method used to take the present value of cash outflow and inflow as a basis to select the
type of selection method. This method used to look the variety of the aspect of the organization
such as Cost Ratio, In which present value of inflow or can be said cost invested in present value
of outflow. In simple word return from the project. Generally project with higher benefit is
selected by the organization. Economical Model is the another aspect in which performance
metric which calculate worth creation for the organization. Nestle has to pic the highest
economical model. Scoring model is the another aspect in which Nestle has to create list of the
prospect project and has to weigh them according on the basis of the importance and their
priorities, then adds the weighted value (Nonino, 2017) . The project which used to score the
highest number is can be selected as the project for the Nestle. Net present value is the another
aspect which can be looked by the Nestle in which difference between the project’s current value
of cash inflow and the current value of cash outflow. As NPV always need to be positive
organization has to make sure that the project which has the highest NPV is selected by the
organization. Payback period is the another aspect which need to be looked by the nestle before
selecting the type of the project which need to be implemented for chocolate drink project in
which Nestle has to find out the expenses related to the project and how long it will take for the
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