Technique for choosing project

[enesdy]

Is there a unique technique you use when choosing/selecting a project? How do you figure what the best project would be to do?

 

[PDQBach]

In a nutshell, departments propose projects to the Projects group.

Projects are then defined as mandatory (usually to meet changed legal requirements) and optional. The optional projects undergo a cost benefit analysis and the results are compared to a hurdle rate and those that pass under go further consideration. Optional projects with a RoR that exceeds the hurdle rate are then prioritized.

Anticipated resourcing and funding are then allocated to mandatory projects. Remaining funding is then allocated to the outstanding projects until funding is exhausted.

Note, too, that there are often several related projects that are optimally implemented as a package and they are generally considered as a single project for resourcing/funding considerations.