Project Selection and Feasibility

Start with project objectives

The Project Management mind map is a starting point for looking at how a project is defined. It includes project objectives, a written strategy, quality standards and the project sponsor's role. Use it to identify what the project is intended to achieve before moving on to selection methods.

The Feasibility Study mind map looks at how ideas, needs and problems develop into projects. It also mentions the project charter in the lead-up to a feasibility study. Read it alongside the first map to connect project objectives with the work of assessing a project.

Explore ways to select a project

A mind map on economic models covers present value, net present value, internal rate of return, cost-benefit analysis and payback period. It includes a present value formula. Another selection map lists benefit measurement methods, scoring models and constrained optimization methods.

After reading the maps, use the project management midterm quiz to practice questions about project selection, organizational alignment and multiple projects. Return to the maps when a question points you toward a method or idea you want to study again.

Look at the business case

The Business Case mind map includes sales and cost forecasts, competitor analysis and market potential. The business case flashcards include a question about reviewing a project's justification when decisions or events affect its desirability. Together, they offer material for studying the information and questions involved in a business case.

Connect the topic to the unit

Project Selection and Feasibility is a section of the Project Initiation and Planning unit in Business administration and management (incl. project management). The maps, quiz and flashcards give you different ways to study selection and feasibility within that unit. Choose a resource that matches the point you want to study next.