MGMT422OLF07Ch2InstructorResponses

MGMT422OLF07Ch2InstructorResponses - the mission and...

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Ch. 2, Instructor Responses 3. How are projects linked to the strategic plan? Projects are linked to the strategic plan because projects represent how a strategy is to be implemented. Since some projects are more important than others, the best way to maximize the organization’s scarce resources is through a priority scheme which allocates resources to a portfolio of projects which balance risk and contribute the most to the strategic plan. 6. Why should an organization not rely only on ROI to select projects? Financial criteria, like ROI alone, will not ensure that selected projects contribute to
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Unformatted text preview: the mission and strategy of a firm. Other considerations such as developing new technology, public image, brand loyalty, ethical position, and maintaining core competencies should be considered. Furthermore, it is difficult or next to impossible to assess ROI for many important projects (e.g., Y2K projects). While ROI is likely to be a key consideration for many organizations, multiple screening criteria are recommended for selecting and prioritizing projects....
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