Risk Management Assignment

             Project selection is the process of evaluating individual projects or groups of projects, and then choosing to implement some set of them so that the objectives of the organisation will be achieved' (Meredith and Mantel, 2003). Project selection is a normally general term of project management method to consider in what project should be either accepted or rejected. The means at the beginning of project selection will be provided by project selection activities. Also, the methodology to validate project will be provided to continue the project completion (Hill, 2010). With the needs of business and the demand of high returns, project selection is brought to succeed challenges, risks, and opportunities.
             Actually, each project normally has the differences of costs, benefits, and risks. As well as, it will also have individual definition of goals, objectives and priorities. The process to narrow some possibilities by screening all potential projects can help to identify effectively any clearly different constraints such as the impact of finance, effective strategy and synergy with the other projects. When a number of projects can be decreased, it will be beneficial to better utilize the boundary of resources so that the project team can focus on a few factors (Jung, 2009).
             In this paper, I will describe and discuss a proposed project by critically striving through the issue why the project is needed. Next, it will inform the context of the proposed project, project goals, project objectives and its priorities. Then, I will also describe criteria and method named Analytical Hierarchy Process (AHP) for project selection with additional example to show how effective it is. The analyzing will be based on theory as presented in PMBoK the 4th edition and other resources. Context will be covered in the field of project scope management and project risk management respectively. The recommendation will be explained other additional eff...

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