Project Selection and Prioritization Decisions

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The challenge: Selecting and justifying the selection of the optimal combination of projects (within budget and other resources constraints) from a portfolio of diverse projects.

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How do you decide on which projects to do and which not to do?

How do you decide on your project prioritization criteria?

How do you decide on the weighting of your criteria?

Are you optimally allocating capital and other resources?

Do your stakeholders agree with your project priority decision?

How do you communicate your project priority decision?

Does your project priority decision optimize value?

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Is your project prioritization process valid, reliable and transparent? If not, your project prioritization decision will be adversely affected by one or more of the many biases that influence our decisions including:

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• Confirmation bias

• Recency bias

• Anchoring

• Egocentrism

• Loss aversion

• Sunk cost fallacy

• Escalation of commitment

• Controllability bias

• Excessive optimism

• Overconfidence bias

• Regency bias

• Groupthink

 

What we'll do together with you:

• Optimize the value of your project portfolio through a process that is valid, reliable and transparent.

• Apply Simple as PQRST And U: Your recipe for adding value by making decisions and taking action.

• Make decisions. Take action. Add value.

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Your value is the sum of the decisions you make and the actions you take

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