PROJ6000: Project Selection Methods and Initiation Processes Report

This report provides a comprehensive analysis of project selection methods and initiation processes, focusing on the context of a report for a Principles of Project Management course. It explores various project selection methods such as strategic alignment, resource availability, and the use of busi...Read More

Principals of Project Management
Name of the Student
Name of the University
Author Note

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1. Introduction
Project selection method is one of the prime challenges which are faced in most of the
commercial establishments all over the world (Yang, Su & Song, 2019). The role of the
project manager is very much beneficial to align the capabilities of the resources of the
organization, select the appropriate PMBOK knowledge areas, maintain the PMI code of
ethics, selection of the tools which can address the risks of a project (Project Management
Institute, 2017b).
The notable objective of this essay is to evaluate the project selection methods of
Singular Logic which is one of the most reputed software and IT solutions groups established
in the year 1984 in Greece (Singular Logic, 2020). This commercial establishment has more
than 740 skilled workers who work across different departments in this SME.
2. Details about the projects
Applied marketing approach and the expectation of the clients are given primary
significance in the projects which are done by this SME. Business models are considered by
the strategic planners of this business for the successful development of the new and
innovative software products
3. Identification and justification of suitable project selection methods
There are numerous methods by which projects are selected across business
organizations (Wysocki, 2011). Strategic alignment of the project is one of the first criteria of
selecting future projects. Going with the needs and expectations of the employees of the
business can be another method of selecting a project. Availability of resources is also
considered as one of the key criteria behind the selection of a project. At the same time, the
decision-making skills of the project managers are also considered before selecting any kind
of project in an organization (Pedersen, 2016). Ability to create effective business cases prior

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to the start of the project is also very much required from the project managers of a business
to select a project. Identification of the strategic gaps of the business, and identification of all
the feasible option associated with the projects are the other significant aspects of selecting a
project in any commercial business organization.
4. Critical discussion the process to conduct the project selection methods
On the other hand, there are other ways by which projects can be selected across
commercial business organizations such as the calculation of the payback period of the
project and calculation of the internal rate of return of the project (Osei-Kyei, Chan &
Dansoh, 2019). Some of the commercial establishments are also looking forward to
investigating the opportunity cost of the projects before selecting or confirming it.
As discussed by Morton, Keisler & Salo (2016), economic models can also be used to
select a project in an organizational setting. The scholars of this resource highlighted that all
the variables of the project can be studied using the economic model, the scholars also stated
that the relationship between the variables can be maintained with the help of the economic
models as well.
According to Meredith, Mantel Jr & Shafer, (2017), calculation of the internal rate of
return is one of the most popular project selection methods which is considered by the SME’s
all around the world. The economic feasibility of a project cam be determined with the help
of the internal rate of return as mentioned by the scholars of this data source.
As elaborated by Liu et al. (2019), the net present value (NPV) is one of the most
successful methods of selecting any kind of project in an organizational setting. The scholars
highlighted that year-wise returns from a project could be easily calculated with the help of
the net present value. On the other hand, there is a drawback associated with this concept as
well in terms of its inability to calculate the sunk cost of the projects. The scholar stated that

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valuation of the dynamic projects cannot be calculated from the net present value (LeRouge,
Tulu & Wood, 2016). However, the alternative investment opportunities can be identified
with the help of this project selection method as well. The scholars accepted that the value of
cash flow can be calculated in an accurate modus using the NPV. Supporting the above
discussion, Kihuga (2018), mentioned that the payback period of any project can be identified
from this project selection method.
As cited by Karasakal & Aker (2017), market analysis, and technical analysis are the
other significant project selection methods that are often used in smaller commercial
establishments. The researchers of this journal stated that a lack of risks can be one of the
most significant project selection criteria in any business organization. The researchers also
added that the commercial establishments mostly take projects which can provide them a
competitive edge over the other similar organizations. The researchers also stated that both
the weighted and the unweighted factor scoring models can be very much useful regarding
the selection of projects in commercial establishments. These models are very much useful to
evaluate the factors which play a leading role in projects such as managing the risks of a
project. The researchers stated these selection methods can be used in both IT companies as
well as in manufacturing industries as well (Herman & Siegelaub, 2009). Identification of the
probable risks is can be one of the significant selection criteria of a project in a smaller
commercial establishment. Along with these there project management techniques like
brainstorming, root cause analysis tools and risk register are also deployed in some of the
SME’s to identify risks of a project (Project Management Institute, 2017a).
As discussed by (), along with the comparative approach, mathematical approach is
also very much popular regarding the selection of projects is most of smaller businesses all
around the globe. The researchers stated that the Constrained Optimization methods are very

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much useful to predict the final outcome of the projects way before the project is started as it
helps to identify all the constraints related to the project.
5. Description of the initiation process groups and project document
There creation of the business cases are very much useful to understand the details of
the projects which are undertaken by Singular Logic. There are separate assignments for the
designers, developers, testers and the project managers of this organization. The role of the
Research and Development (R&D) team is very much significant for the successful creation
of the business cases where the responsibilities of each stakeholder is clearly mentioned. The
incremental improvement required in the project can be understood from the process groups
of Singular Logic as well. The R&D team of this team maintains the cycle of new services
and manages each and every project, the service delivery proves is also managed in the first
place with the help of the R&D team, the team also looked after the availability of the skilled
workforces in this business. The other process groups are the experts who manage the
business units of this organization; they work in collaboration with the R&D team to decide
the priorities of the business. Clients and business partners are also considered as one of the
prime processes groups of this business as each one of them help to bring new and innovative
business ideas. Thus, all the process groups of this business are very much useful to make the
projects successful in this organization. All the sequential activities of a project can be
managed in the first place with the help of the initial process groups which is maintained by
the stakeholders of the business (Gür, Hamurcu & Eren, 2016). On the other hand, there are
diverse categories of project documents which are considered in this business for the inputs
of a new project such as the business case which provides justification behind the investment
required in the projects, project charter which describes the objectives of the project,
communication plan for each stakeholder related with the project (PMI, 2013). The procedure

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of sharing of knowledge and information is very much transparent in this business due to the
presence of an effective communication plan. The needs and the expectations of the services
provided by the students can be understood with the help of the change request management,
where the agreed deliverables of the project are clearly mentioned.
Each of these documents are very much useful to monitor the assumptions of the
projects which are undertaken by this organization. These documents also verify the code of
ethics, which is maintained by this organization (Crawford, BA & Stretton, 2018). There are
lots of changes in the scope of the projects undertaken by this business, these changes can be
tracked in an effective modus with the help of these documents. Thus, based on all the PMI
code of ethics such as responsibility, honesty, fairness and respect, it can be said that this
organization is successfully maintaining each code in their business practices.
6. Conclusion
There are numerous ways of selecting projects for every commercial establishment in
terms of the strategic alignment of the projects, availability of resources, expectation of the
employees. Factors such as identification of strategic gaps and identification of the feasible
options can have a huge impact on the project selection methods. There are other project
selection methods as well, such as the calculation of the payback period, internal rate of
return, NPV and economic models. Technical and market analysis is the other project
selection methods adopted in smaller establishments. Initial process groups of Singular Logic
is very much effective and professional as they are helping this organization to increase its
net revenue every year. The project documents which are deployed in this organization such
as the communication plan, change request management, are very much significant to
maintain the impressive knowledge sharing procedure in this business. All the assumptions
required in the project or the challenges faced in the projects are addressed using these

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documents. The organization is also following the PMI code of ethics in their business
practices. Thus, this essay was very much useful to understand the diverse categories of
project selection methods and project initiation processes.

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7. References
Crawford, L. H., BA, H., & Stretton, A. M. (2018). Bodies of Knowledge and Competency
Standards in Global Project Management. The AMA Handbook of Project
Management.
Gür, Ş., Hamurcu, M., & Eren, T. (2016). Using analytic network process and goal
programming methods for project selection in the public institution. Les Cahiers du
MECAS, 13, 36-51.
Herman, B., & Siegelaub, J. (2009). Is this really worth the effort? The need for a business
case. In PMI Global Congress, Orlando, FL, October.
Karasakal, E., & Aker, P. (2017). A multicriteria sorting approach based on data envelopment
analysis for R&D project selection problem. Omega, 73, 79-92.
Kihuga, A. G. (2018). Project Initiation Process, Monitoring and Evaluation Team Capacity,
Compliance with Legal Framework and Building Projects Success: The Case of
Building Projects in Roysambu Constituency, Nairobi County, Kenya (Doctoral
dissertation, University of Nairobi).
LeRouge, C. M., Tulu, B., & Wood, S. (2016). Project initiation for telemedicine services. In
E-health and telemedicine: Concepts, methodologies, tools, and applications (pp. 1-
24). IGI Global.
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.
Meredith, J. R., Mantel Jr, S. J., & Shafer, S. M. (2017). Project management: a managerial
approach. John Wiley & Sons.

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Morton, A., Keisler, J. M., & Salo, A. (2016). Multicriteria portfolio decision analysis for
project selection. In Multiple Criteria Decision Analysis (pp. 1269-1298). Springer,
New York, NY.
Osei-Kyei, R., Chan, A. P., & Dansoh, A. (2019). Project selection index for unsolicited
public–private partnership proposals. International Journal of Construction
Management, 1-12.
Pedersen, K. (2016). IT project selection: Politics, experience and good friends. Electronic
Journal of Information Systems Evaluation, 19(1), 55.
PMI, A. (2013). guide to the project management body of knowledge (PMBOK guide). In
Project Management Institute (Vol. 5).
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.
SingularLogic |. Portal.singularlogic.eu. (2020). Retrieved 26 March 2020, from
https://portal.singularlogic.eu/en.
Wysocki, R. K. (2011). Effective project management: traditional, agile, extreme. John
Wiley & Sons.
Yang, J., Su, J., & Song, L. (2019). Selection of manufacturing enterprise innovation design
project based on consumer’s green preferences. Sustainability, 11(5), 1375.

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