Project Selection Methods and Initial Documents - Semester 1, 2024

This report analyzes project selection methods and initial documents within the context of a case study involving SingularLogic, a software and IT solutions provider. The report begins by identifying and justifying suitable project selection methods for the organization, focusing on the R&D process and its impact on project selection. It then critically discusses the processes involved in conducting these methods, highlighting the bottlenecks caused by the R&D department. The report then integrates the Project Management Body of Knowledge (PMBOK) to describe the initiation process group and relevant project documents. It explores benefit measurement, constrained optimization, and qualitative methods for effective project selection. The conclusion emphasizes the importance of skilled employees, proper project management methods, and the alignment of project selection with organizational goals, including corporate social responsibility and customer relationship management.

Running head: PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
Project Selection Methods and Initial Documents
Name of the Student
Name of the University
Author Note

1PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
Table of Contents
Introduction................................................................................................................................2
Carefully identify and justify suitable project selection methods to the given project..............2
Critically discuss the processes to conduct the above project selection methods......................3
Consider the Project Management Body of Knowledge (PMBOK) and appropriately describe
the initiation process group and project documents that are created or used as inputs for a new
project.........................................................................................................................................4
Conclusion..................................................................................................................................6
References..................................................................................................................................7

2PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
Introduction
Every organisation needs to go to several standard procedures for selecting a process
according to the resources present within the organisation. Selecting a project means that a
sponsor organisation itself is investing used amount of money or asset in in the new project.
The investment that is made by an organisation or a sponsor to a project in sure that the
investment done would bring about better returns to the investment and add benefits to the
organization. Therefore every organisation must go through several project selection method
so that the selection of a project for or the organisation would provide understanding of the
directions that the organisation is taking, understand the return on investment and the benefits
that would be provided to both the organisation and the stakeholders would be enjoying the
outcome (Parvaneh & El-Sayegh, 2016). For SingularLogic as well, business software
services and business software licensing provision to other organisation depends upon several
departments within the organisation. The resources that your organisation already has results
into the selection of project. The following report will identify and justify the project
selection method that the organisation is currently utilising along with the critical analysis of
the project selection methods and the initiation of the process group and project documents
created as the input taken for a new project.
Carefully identify and justify suitable project selection methods to the
given project
SingularLogic utilizes R&D process for utilising researches on new product or service
launches to the client group and applying marketing approaches. This department clearly
specifies the research and development process for obtaining several knowledges to create the
new products or services for presenting to the clients. It is mostly e used by the organisation
to represent the undertaking services and products of the companies so that this department

3PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
can find out innovative procedure to introduce new services and products that will upgrade
their reputation to the clients.
The R&D department that the organisation uses is dependent on the resources of the
organisation and also show the Service Delivery process. The Service Delivery channel that
the business uses is also dependent upon the R&D procedure along with the business model.
In this case, the lead time of a project that the research and development team has found out
is variable between 4 months to 3 years. However, there are several bottlenecks that the
organisation is experiencing right now. The selection method of the project is totally
dependent upon the research and development team that identifies what changes are need to
be within the organisation and how innovative procedures can be presented to the client in
case of the development of products and services. Since this particular organisation is
providing software and integrated IT Solutions all around Greece and other Balkan areas of
Bulgaria and Romania, the resources that is gathered exceeds around 75 million euros. The
business has been divided into three different divisions so that the research and development
team can utilise these three divisions for integrating solutions for the public sector
organisation.
The organisation is ready to serve the other public sector organisation but it is very
difficult to understand the procedures under which the organisation is trying to select the
projects with the limited budget across the entire nation and even abroad (Wei et al., 2020).
The return on investment it is a matter of discussion but it is also to be discussed on how the
departments within the organisation are being funded.

4PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
Critically discuss the processes to conduct the above project selection
methods
As per the case study, SingularLogic has been investing on the R&D division more
than the organisation can spend the resources on a particular department. The organised
procedures that this particular department provides also has information regarding other
organisation that works as a benefit for SingularLogic. However also at the same time the
organisation is causing bottlenecks which might affect the survival of the projects and the
funding that are processed.
The organisation works in a state budget but the cyclical nature of the business makes
it difficult to avoid the bottleneck that Research and Development Department utilizes. It is
reported that the research and development team is not organised in the company and closer
link to the business community do not provide benefits to the organisation like it ideally
would. The organisation does not monitor the research and development team and this is why
it also does not understand that the project selection method is performing differently where it
could have been much faster process (Liu et al., 2019). The unit also should involve multi
skill people for the research and development procedure. This is why there are several
bottlenecks that the research and development team create which makes the organisation and
its project selection method difficult to process. Quite naturally it is evident that the project
selection methods that SingularLogic performs is faulty because of the research and
development department. Following can be few suggested methods that the organisation can
use so that it would add value to the business and also make sure that the research and
development team does not use up too much of the organisation resources.

5PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
Consider the Project Management Body of Knowledge (PMBOK) and
appropriately describe the initiation process group and project documents
that are created or used as inputs for a new project
Before taking up a new project, there are two major categories of project selection
that every organisation should follow as per the project management body of knowledge.
These are the benefits measurement methods, the constant Optimisation methods and the
qualitative methods (Project Management Institute, 2016). All these methods considering the
case study as described above would be e described in the section below:
The benefits measurement method: This is the first and foremost rule that the
research and development Team should have introduced. This accounts for finding out the
comparative approach of studying the benefits of the project when it would be taken up by
the organisation as a new project. This would analyse the most important aspects, including
financial returns (Project Management Institute, 2017). Therefore, it would analyse the cost
benefit where the ratio of benefit to cost should be more than one. This is because the benefits
to cost ratio provides better opportunity when it is higher. It also needs to analyse the
payback period so that the investors and the organisation understands the total time that
would recover the investments to make the organisation start making profits. It must also
include the scrutinization of net present value, economic value and opportunity cost.
Constrained Optimisation method: This is one of the most important project
selection methods where the comprehensive calculations and simulations find out the
understanding of the project uncertainty clearly (Huang & You, 2017).
Qualitative method: This method would easily find out the project investment
decision made, the selection of the study that would be done so that a clear guideline can be
drawn for project selection procedure and the methods taken to analyse the resources of the

6PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
organisation. It is not the financial games that your organisation would be looking forward to
but also the customer relationship management opportunities and corporate social
responsibilities that the organisation should go when they trying to implement new project.
If the research and development section utilised this particular method before taking
up a new project, the project selection method would easily deliver the benefit and losses that
could occur by taking up a new project (Yilmaz & Antmen, 2019). In this way it would be
better to understand which project would add monetary gains to the organisation and which
would not just add money today games your organisation but would also focus at providing
corporate social responsibility opportunity for the organisation and also make sure that the
client and the surrounding environment is benefited by the outcomes of the project. In this
way SingularLogic would gain more reputation as an organisation taking up and delivering
the best projects possible through the products and services that they offer to the clients.
Conclusion
Therefore, in conclusion it can be said that the organisation of SingularLogic took up
several projects serving not just the organisation within Greece but also in surrounding areas
of Romania and Bulgaria. The Return of Investment at the organisation could see from the
organisation was encouraging several losses because of the research and development team.
There were several bottlenecks formed and also the investment on this particular department
was being over the budget. Therefore, replacing the research and development team with
skilled employees and utilising proper project management methods for selecting a new
project according to the project management book of knowledge would be the best possible
way to select a new project. This various selection of a new project would not just make sure
that monetary profits are added to the organisation but it also supports delivery of products of

7PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
services to the client adding to the corporate social responsibilities and the customer
relationship management.

8PROJECT SELECTION METHODS AND INITIAL DOCUMENTS
References
Yilmaz, D. E., & Antmen, F. (2019). Project Selection Method Based on Balanced Scorecard
Framework. Business and Economics Research Journal, 10(5), 1179-1187.
Wu, Y. J., & Chen, J. C. (2019). A structured method for smart city project
selection. International Journal of Information Management, 101981.
Liu, F., Chen, Y. W., Yang, J. B., Xu, D. L., & Liu, W. (2019). Solving multiple-criteria
R&D project selection problems with a data-driven evidential reasoning
rule. International Journal of Project Management, 37(1), 87-97.
Project Management Institute. (2017a). A guide to the project management body
of knowledge (PMBOK guide). (6th ed.). Newton Square, PA: Project Management
Institute.
Project Management Institute. (2017b). Project manager competency framework. (3rd ed.).
Newtown Square, PA: Project Management Institute.
Wei, H., Niu, C., Xia, B., Dou, Y., & Hu, X. (2020). A refined selection method for project
portfolio optimization considering project interactions. Expert Systems with
Applications, 142, 112952.
Parvaneh, F., & El-Sayegh, S. M. (2016). Project selection using the combined approach of
AHP and LP. Journal of Financial Management of Property and Construction.
Huang, X., & You, Y. (2017, June). Optimal Mixed Project and Security Portfolio Selection
under Reinvestment Strategy. In 2017 International Conference on Industrial
Engineering, Management Science and Application (ICIMSA) (pp. 1-5). IEEE.