Question

__________ is the process of evaluating individual projects or groups of projects, and then choosing to implement some set of them so that the objectives of the parent organization will be achieved.

a) Project selection
b) Project execution
c) Project monitoring
d) Project termination

Answer 1

The process referred to is called Project Selection, which is crucial in aligning projects with organizational strategies and in determining which projects to pursue based on various criteria.

Step-by-step explanation:

The process of evaluating individual projects or groups of projects, and then choosing to implement some set of them so that the objectives of the parent organization will be achieved is called Project Selection. This is a critical phase in project management that aligns with the strategic goals of the organization. During this process, various criteria are assessed including feasibility, alignment with business strategy, cost, resource availability, and potential risks. Not all projects will be pursued; decision-makers have to prioritize and select those that contribute the most value to the organization. Project selection is the process of evaluating individual projects or groups of projects, and then choosing to implement some set of them so that the objectives of the parent organization will be achieved. It involves analyzing various factors such as potential benefits, risks, costs, and alignment with organizational goals. For example, a manufacturing company may evaluate multiple project proposals and select the one that offers the highest return on investment and aligns with their strategic objectives.

Answer 2

Project selection is the process of evaluating and choosing projects to align with an organization's goals, efficiently use resources, and optimize returns.

Step-by-step explanation:

The project selection process is the method by which individual projects or groups of projects are assessed, and a decision is made to pursue a subset of them in order to meet the goals of the parent organization.

The correct option for the question is a) Project selection. This process is important as it helps to align projects with an organization's strategic objectives, ensure the efficient use of resources, and optimize potential returns on investment.

Factors like project feasibility, alignment with business objectives, resource availability, and risk-reward balance are typically considered in project selection to maximize value creation.

Project selection is the process of evaluating individual projects or groups of projects, and then choosing to implement some set of them so that the objectives of the parent organization will be achieved.

It involves analyzing various factors such as feasibility, cost, timeline, and alignment with the organization's goals.

For example, a company might assess different product development projects and select the ones that have the highest potential for success and return on investment.