Required

• Chapters 2 & 3 in Project Management Toolbox
• Part 1, Section 4.1 and Part 2, Section 2 in A Guide to the Project Management Body of Knowledge (PMBOK® Guide), 6th edition
• Caballero, H. C., Chopra, S., & Schmidt, E. K. (2012). Project portfolio selection using mathematical programming and optimization methods. Paper presented at PMI® Global Congress 2012—North America, Vancouver, British Columbia, Canada. Newtown Square, PA: Project Management Institute. Retrieved from https://www.pmi.org/learning/library/portfolio-selection-mathematical-programming-optimization-6074
• Tekes, G., & Cavarec, Y. (2013). Benefit realization in execution focused companies vs. project management excellence: what really matters? Paper presented at PMI® Global Congress 2013—North America, New Orleans, LA. Newtown Square, PA: Project Management Institute. Retrieved from https://www.pmi.org/learning/library/benefit-program-management-5838

Recommended

• Batra, R., & Verma, S. (2017). Capital budgeting practices in Indian companies. IIMB Management Review, 29(1), 29-44.
• Geng, S., Chuah, K. B., Law, K. M. Y., Cheung, C. K., Chau, Y. C., & Rui, C. (2018). Knowledge contribution as a factor in project selection. Project Management Journal, 49(1), 25–41. Retrieved from https://www.pmi.org/learning/library/knowledge-contribution-project-selection-11062

Assume you are drafting an email to a colleague to explain how he/she can use Excel to solve one of the economic models used for project selection. Provide a detailed, step-wise instruction for one of the economic models discussed in Chapter 2 of the textbook and specify the inputs, Excel formula, and output data. You can use Lynda.com to review videos that provide additional information on economic models.

Be sure to post an initial, 250-word substantive response by Thursday at 11:59 p.m. MST and respond to two or more peers with substantive responses by Sunday at 11:59 p.m. MST. A substantive initial post answers the question presented completely. Substantive peer responses ask a thoughtful question pertaining to the topic and/or answer a question (in detail) posted by another student or the instructor. Or, you can include applicable personal experience or additional resources concerning the discussion topic.

Reference at least one credible source among the required or recommended readings and an outside, credible reference (a reference other than the textbook or readings), cited according to proper CSU-Global Guide to Writing and APA (Links to an external site.) standards.

Hey Colleagues,

Another interesting challenge for us in the Discussion in Module 2. We are now delving into the economic models used for project selection. Pick one of the models discussed in Chapter 2 of the textbook. Talk to the inputs for the model you choose, describe (provide a graphic if you will) the MS Excel formulas, and then the output. There are videos on Lynda.com that will help.

If you have personal experience with the selection process and have used a model to assist – tell us about it.