Discussion Question #1:

What are three project selection criteria? What do you think is the most important information required to select a project? How would you explain to your manager that a project that was important to his or her department is not good for the organization based on the selection criteria?

What are three project selection criteria?

According to Meredith & Mantel, Jr., 2006, firms use several criteria when choosing a project selection model. Three of these criteria are Capability, Flexibility, and Cost.

Capability: The model should be sophisticated enough to deal with multiple time periods, simulate various situations both internal and external to the project, and optimize the decision.

Flexibility: The model should give valid results within the range of conditions...