A FRAMEWORK FOR STRATEGIC PROJECT ANALYSIS AND PRIORITIZATION

Projects that support the long-term strategic intent and alignment are considered strategic projects. Therefore, these projects must consider their alignment with the organization’s current strategy and focus on the risk, organizational capability, resources availability, political influence, and socio-cultural factors. Quantitative and qualitative methods prioritize the projects; however, they are usually suitable for specific industries. Although prioritization models are used in the private sector, the same in the public sector is not widely seen in the literature. The lack of models in the public sector has happened because of the projects’ social implications, the value perception of different projects in the public sector, and potentially differing value perceptions attached to the types of projects in different decision-making environments in the public sector. The thesis proposes a generic framework to develop a priority list of the available basket of projects and decide on projects for the next undertaking. The focus of the thesis is on public projects. The analysis in the framework considers the critical factors for prioritization obtained from the literature clustered through the agglomerative text clustering technique. In the proposed framework, 13 critical clusters are identified and weighted using the Criteria Importance Through Intercriteria Correlation (CRITIC) method to develop their ranking using the Technique for Order of Preference Similarity Ideal Solution (TOPSIS) method. In addition, the proposed framework uses vector weighting to prioritize projects across industries. The applicability of the framework is demonstrated through Qatar’s real estate and transportation projects. The outcome obtained from the framework is compared with those obtained through the experts using the System Usability Scale (SUS). The comparison shows that the framework provides good predictability of the projects for implementation

Perspectives on the capabilities for the selection of strategic projects

Strategic projects are large scale, complex, and require significant investments and resources. These projects aim at gaining long-term social and economic benefits. Therefore, organizations focusing on strategic projects should use a consistent approach that suits their strategy, capability, and long-term expectations. Based on the four research questions and content analysis of the literature, generic processes used for the strategic project selection in tandem with the managerial capabilities are identified in this paper. The generic processes and managerial capabilities are used to develop a generic framework for strategic project selection. The framework is used for literature analysis in the paper. The review shows that both qualitative and quantitative methods are used for strategic project selection. Some possible research directions have also been proposed at the end of the review. The paper provides value to both researchers and practitioners in terms of tools available and a guidance on project selection through a structured process framework. 2020 by the authors.Scopus2-s2.0-8509254534

A Framework for Prioritization and Selection of Strategic Projects

Strategic projects are critical for the sustenance of an organization; however, they are subject to different types of constraints in terms of risk, management capabilities, resources, and political and cultural factors. Therefore, prioritizing and selecting these projects becomes a challenging task in each organization that focuses on multiple strategic projects spanning different sectors or industries. This article proposes a framework for analyzing strategic projects to rank heterogeneous projects across industries. The framework uses a multiple-criteria decision analysis model to prioritize strategic projects based on a set of criteria. The criteria were developed through clustering the relevant factors. Projects are first weighted with the criteria importance through intercriteria correlation method and then ranked using the technique for order of preference by similarity to ideal solution method. Vector weighting is then applied to rank the projects. The framework is demonstrated by its application to Qatar's real estate and transportation projects. This article contributes by providing a holistic framework and analytical methodologies to support decision-making for selecting one or more types of cross-industry strategic projects. Results show that the cross-industry project ranking obtained from the model is highly correlated with the ranks assigned by experts. The applicability of the model and the future research direction are also discussed. IEEEScopus2-s2.0-8513367494