Is This Project Worth Doing?
Project success is arguably more important to the future of the small to medium size businesses than it is for large businesses, because the larger organizations may be better positioned to absorb the losses from cancelled or unsuccessful projects.
Thus, in smaller businesses, it is critically important that the projects selected for execution must not only be successful in the classic sense of the Triple Constraint, but also be the right projects for the organization.
A successful series of projects that do not add value to the organization is just as bad as a series of unsuccessful projects.
In this session, after touching briefly on typical reasons for project failure in small and medium sized organizations, we will focus on understanding the financial metrics to use to determine whether a project should be undertaken. These metrics include projected costs and benefits, net present value (NPV), internal rate of return (IRR), payback period, and return on investment (ROI).