Class essay in APA format

PJM480 MOD3 Critical Thinking Assignment

Required

• Chapter 2 in Part 1 of A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
• Jordan, A. (2015). Removing the guesswork from strategy. Retrieved from https://www.projectmanagement.com/articles/296993/…
• Jordan, A. (2017). Project selection and PMOs. Retrieved from https://www.projectmanagement.com/articles/369447/…
• Project Management Academy. (n.d.). Project selection methods: A primer for the project manager. Retrieved from http://projectmanagementacademy.net/articles/proje…

Recommended

• Heerkens, G. (2013). Narrowing the field. PM Network, 27(10), 26.
• Heerkens, G. (2013). Next top projects. PM Network, 27(7), 67.
• Saaty, J. (2015). R&D planning and selection: The “silver bullet” fallacy and the use of scenarios. R&D Magazine, 57(4), 24.

Option #1: Project Selection

Examine the following scenario:

Program X has planned about $1B worth of projects every year. One of
the key challenges is to identify which projects to fund at the
beginning of each year. Projects are piling up on the CIO’s desk for the
upcoming year. The list includes a range of upgrades, support,
automation, and new product development, and so forth. You have been
given the responsibility of selecting projects for the upcoming year.

For your assignment, please address the following questions. Your responses should be integrated in a well-written paper.

1. How will you do this?
2. Develop a project selection and screening system with stage-gate review, including project performance criteria.
3. Specifically define all selection criteria and why you chose each.
4. Diagram the elements of your process and include stage gate reviews.
5. Utilize a selection methodology, either numerical or non-numerical,
   to support the value of the project. Create your own project data for 5
   projects (i.e., project resources, tasks, etc.). Show your work and
   analyze the outcome. Include this in your diagram.

Your paper should meet the following requirements:

• Be 2-3 pages in length plus graphical elements,
• Be formatted according to the CSU-Global Guide to APA and Writing Requirements (Links to an external site.), and
• Include two scholarly sources from the CSU-Global Library (Links to an external site.).

Option #2: Project Selection Review

Using past course texts, current suggested readings, and other scholarly resources, define the project selection process.

For your assignment, please address the following in a well-written paper.

1. Describe the project selection process.
2. Describe the selection criteria that should be considered and why they are important.
3. Describe stage gate reviews and evaluation criteria.
4. Describe the differences you might see between IT projects and Manufacturing Projects.
5. Describe two methods to support value (NPV, ROI, Payback) and assess
   the viability of new projects. Include why they are used, how they are
   calculated, and the value each adds.

Lastly, conclude with a summary to an organization that may be using your review as a guide.

Your paper should meet the following requirements:

• Be 3 pages (minimum) in length,
• Be formatted according to the CSU-Global Guide to APA and Writing Requirements (Links to an external site.), and
• Include two scholarly sources from the CSU-Global Library (Links to an external site.).