Indiana Wesleyan University Management Question – Description
Introduction to Project Management
Getting Started
Throughout this course, you will be provided with many opportunities to synthesize the project management theories and practices you’ve learned about and apply them to a specific business scenario or challenge. These cases will also require you to reflect upon your experiences that are relevant to project management competencies and processes. In this workshop, you will submit a brief analysis of a case scenario for a project manager who must consider financial and non-financial project selection methods.
Upon successful completion of this assignment, you will be able to:
Examine financial and non-financial project selection methods.
Resources
Textbook: Agile Fundamentals: A Comprehensive Guide to Using an Agile Approach
Textbook: PMP Exam Prep
Article: Project Priorities
Video: Understanding the Project Management Triangle (or Triple Constraint)
Video: Kimberly Douglas Speaks on Impact vs. Effort
[Note: The inclusion of publicly accessible video links in your courses and program should be considered neither a recommendation nor endorsement of any products or services mentioned within them.]
Background Information
Now that you have examined effective project selection methods, you will reflect upon a specific project scenario that requires you to apply the project management concepts and best practices you have learned about in this workshop. Submit a brief analysis of the company’s current project selection method described in the scenario and how the company might improve upon project selection and prioritization in the future, particularly when faced with multiple project opportunities. Discuss the types of financial and non-financial project selection methods, along with their advantages and disadvantages, and propose how the company could best incorporate either or both types of project selection methods in its future practices, while achieving strategic portfolio management across the organization.
Instructions
Review the rubric to make sure you understand the criteria for earning your grade.
Review the following resources, as needed:
Agile Fundamentals: A Comprehensive Guide to Using an Agile Approach, Chapter 3: Value-Driven Delivery
PMP Exam Prep, Chapter 2: Framework- Project Selection
Article: “Project Priorities”
Videos:
“Understanding the Project Management Triangle (or Triple Constraint)” (3:09)
“Kimberly Douglas Speaks on Impact vs. Effort” (2:31)
For this assignment you will write a recommendation for a project prioritization process.
Background information and context:
The CafeLatte project has completed successfully, and you have been promoted. You are now a director who has decision making authority for project prioritization.
You have been asked to make a recommendation on the best way to select and prioritize potential projects.
How to complete this assignment:
Compose your recommendation for CafeLatte’s future approach for project selection.
Share your perspective as to what the potential advantages and disadvantages are of the NPV model and other financial models.
Recommend whether CafeLatte should use only one model based on quantitative financial data when evaluating, prioritizing, and comparing projects?
Describe the benefits and drawbacks to switching solely to a qualitative, non-numerical, project selection model?
Additionally, explain what criteria do you think a great project screening model includes and why?
Your submission should be a minimum of 350 words.
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