Some projects have ambitious goals, and some fill in small pieces of larger puzz

Question

Some projects have ambitious goals, and some fill in small pieces of larger puzzles. In either case, projects are usually part of a larger scheme called programs or portfolios. What projects become part of a program or portfolio should be a matter of careful consideration. An organization must evaluate whether a project is necessary to support the business vision and whether it is worth the time, money, and risk to implement. The organization must also assess the impact of this new project on other established projects.

Unless a company is small, it will have more than one project running simultaneously. Large companies invest a considerable portion of their budgets in concurrent projects. This Discussion will enable you to exchange opinions with others about managing projects as a set of assets that must be aligned with an organization's business strategy.

Explanation / Answer

When a new project is proposed, the organization must do some analysis regarding whether the project is worth to be handled or not. The organization must do analysis on the impact of the new project to the organization. The money invested, time taken etc. are some of the factors to be considered before implementing the project.

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