The Project Screening Process

Selecting a Project & Multi-Weighted Scoring Models


In any business there can be many projects which are awaiting to be undertaken such as implementing new technologies, taking on board customer ideas for improvements, implementing measures to deal with the impact on Brexit or improving the business to increase the market share, target market or sales.

Projects in business can include: premises expansion, diversification of products or services, new improved recipes or elements to a product/service, develop new competencies & abilities or simply implementing a new business strategy. 

The project screening process is the means of which ideas & project proposals are approved or disapproved, such includes various stages of which are: the proposal itself, researching and analyzing the possible return & if the project fits within the capabilities & strategic fit and competencies of the firm along with understanding the project criteria and desired objectives, followed by risk analysis & putting objectives in a list of importance along with the weight alongside. 

 The FYRE Festival failed to conduct a project screening process correctly. The management did create a proposal, however it was not realistic or feasible (which was later uncovered) the project did not have any strategic fit with the desired location as it was not able to hold the estimated amount of people who would attend, it was not used as a festival venue before & therefore the infrastructure did not exist. The payback period would have been hundreds of years taking into account the millions & millions of dollars the head, Mr. McFarland took out to peruse his pet project. The evaluation of the project based on its criteria by experts in building sets, sound and travel to & from the destination in the Bahamas gave the recommendation to abandon the project. This was ultimately ignored & the project progressed, kinda. The risk/balance was high as experts stating the project wouldn't be successful or be feasible - it went ahead. The head of the team, McFarland had priorities to be a success and yield reputation, money and prestige with his pet project but without the correct screening process - it failed and it failed bad. 
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The project screening process falls within the first stage of project management, defining the specifications & objectives and leads into the second stage of project management planning. 

Prior to getting approval from top management to pursue the ISO 14001, senior managers in PwC had to create a proposal and conduct analysis about the project, its costs of both capital and time along with the risks. Senior management would have utilised a multi weighting system, to visually understand the project objectives and tactics to achieve such objectives. The objectives of the project along with other proposed projects can be listed on the y axis while the objectives or criteria along the x axis. The criteria are given weightings based on importance ranging from 0.0-3.0 or in any range management desire. Management will then go through the project and the criteria assigning a number to each on how likely the project will satisfy each criteria. The projects with the highest scores will be more favorable to be continued and not killed off. 

The FYRE Festival, possibly the greatest music event that NEVER happened due to the lack of planning and focus on the end goal which was constraint by a specific date. The management team, the driving force of the project failed to effectively peruse selection models to identify if the project would be either feasible & allow for their desired objectives - which was to be the greatest music festival ever. Without the use of appropriate selection tools and realistic targets or objectives, the project failed & did so miserably. 

In order to select a project which suits, compliments and utilities the company current capabilities is vital otherwise the project without the resources required will fail & fail to reach the desired outcomes. Without a defined and clear proposal, the desired objectives cannot be formulated & the project selection tools can not be correctly used. 

Without the use of the screening process or selection tools - the project may be doomed to fail before it gets started.. 





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