It seems like every organization has more projects to complete than the amount of resources they have available to work on those projects

Project Selection Reflection

Companies prioritize the projects to start first by gauging the business value for all the available projects that need to be accomplished. Projects with the highest value and likely to generate significant revenues upon completion are prioritized (Nieto-Rodriguez, 2016). Another consideration that guides the organization in selecting projects is their relative influence on improving work efficiency. A project that boosts products' quality and enhances the commitment of employees is given priority. Another consideration for prioritizing projects is their urgency (Nieto-Rodriguez, 2016). Projects that require an urgent implementation to support the flow of business and boost competitiveness take priority. Organizations gauge a project's urgency by identifying the related costs that could arise by failing to implement the project in time.  

One critical tool that supports organizations to choose projects is the cause and effect diagram, also called the fishbone diagram. The tool helps to match events and their potential impacts on an organization (Schwalbe, 2017). The events may result in various effects, which can help gauge the project that yields the highest returns to a business. Each of the fishbone diagrams can have various starting points and diversified ends. The tool supports the organization in comparing the projects whose benefits outweigh their associated costs. It is a form of cost-benefit analysis, and only those projects with higher benefits and minimizes the organization’s costs are selected for implementation.