Projects just don’t happen by themselves. 
Before projects begin, the underlying “concept” must be proposed,
evaluated and approved.  This is project selection,
and as a process, it must be designed to ensure that project proposals
are evaluated fairly and objectively, with a focus on business value
and project viability.  That’s the goal – now how is it
accomplished?  Read on for more.

As a management process, project selection is accomplished through standardized practices
that establish parameters and boundaries for how projects are to be
proposed and selected. Standardized practices set the stage through pre-defined steps and
related “viability criteria�? – forming the basis which all proposals
are evaluated and measured. 
This paves the way to consistent, informed and timely decision
making (a.k.a the ultimate goal).

What is a project proposal?  The project proposal is the
initiating trigger of the project selection process.  Whether
it comes in the form of a verbal proposal, simple project request
form, or documented business case, the project proposal is the
vehicle by which the initial project “concept” is presented.

Getting Started: Making “Selection” Work

Every project begins with a proposal, but not every proposal can
or should become a project. In a world of limited resources, choices
have to be made. Not every project has viability. And, amongst those
that do, any limited resources, (including people, time, money and equipment),
must be applied judiciously. Consider the risks if resources are misapplied:

• Valuable resources can be “used up” before projects are completed
  and finalized.
• Resources might be used less effectively through assignment
  to projects of lesser value and priority.
• Credibility and influence can be lost as perceived project failures
  pile up.

Project Selection Focuses on Viability

To maximize available resources, and avoid potential failures, project
proposals must be evaluated and selected on the basis of overall viability. 
In a business sense, project viability is the degree to which a given
project will provide the expected return on investment.  Viability
can be measured by three key variables:

• Value:  The project must provide measurable
  benefit to the organization, in terms of revenue, cost reduction,
  productivity, or some other desired result.
• Alignment:  The project must be consistent
  with, and supportive of, overall business goals and objectives (including
  technology goals).
• Probability of Success:  The project must
  present a realistic opportunity for success, relating to outcome
  and process, and as can be measured by business, project management,
  and technology standards.

Project Selection Relies on Standards

In order to develop selection practices that are fully “defined,
aligned and approved�? the following questions must be considered and
addressed:

• How will project proposals be submitted into the “pool” of potential
  projects?
• How often will the project “pool” process be undertaken (yearly,
  quarterly, monthly)?
• Who is responsible for managing the project “pool” selection
  process?
• How will project proposals be reviewed and evaluated?
• How will selection decisions be made?
• How will selection decisions be approved?
• How will selection decisions be communicated?
• How will disputes be resolved?

Project selection is a cog in the
project management lifecycle, but
informed, effective selection decisions are essential to management
success and the ability to deliver on time, on budget projects.  Selection
steps kick things off, providing the basis for all of the planning and
decision making that lies ahead.  You can never be reluctant to
re-examine selection decisions as time passes and project circumstances
change. That’s the whole point of a lifecycle approach to managing
projects.

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