Palavino, Anna Karanina L.

II-BSBA-OM-A
PROJECT MANAGEMENT

Activity in Identifying and Selecting Projects

Respond to the learning exercise on Initiating a Project in the study guide.

1.Describe a situation in your life in which you performed needs identification

*For me to help determine whether it is worthwhile to pursue. Organizations may identify several or many needs but
lack the funds and personnel to pursue potential projects to address all of those needs. In such cases, the company
must go through a decision-making process in order to prioritize and select the projects that will provide the greatest
overall benefit.

2.Why is it important to select the right project before you begin working?

*It is critical to choose the right project among several alternatives because it is necessary to choose the project that
will provide the most benefits. Because the company is investing time, money, and resources in the project, it is
critical to choose the right project. 
Project selection must take into account and evaluate all potential projects. Because each project has its own set of
benefits, consequences, advantages, and disadvantages.

3. Describe how a business selects which projects to work on when there are numerous projects that
could be done.

*The project selection criteria are specific to the company and the project. In general, an organization will consider
the technical prowess of the team, the time and budget available to complete the project, and the broader scope of
the organization's goals.

4. Give examples of situations in which an organization might develop a request for proposal.

*When an organization does not have the expertise or staff capacity to plan and perform the project or major portions
of the project.

5. Describe why building relationships with customers and partners is important. How is this
accomplished?

*Clients prefer to work with people they know and trust, as do partner organizations. Successful fundraising and
contracting possibilities are built on relationships. Be dependable and accommodating. The development of trust also
depends on acting ethically while interacting with customers and business partners.