Project selection ways #pmbok #pmpexamprep #pmp #pmpexam

project selection projects are selected by the customer or the sponsor or subject matter experts. So how do you pick which project is selection figure like two projects to be compared so we have got some uh scoring models okay first one is the payback period okay so if a project has got a shorter payback period we select that between five months and two months of this project you can pay back within two months we’ll select that project okay then you’ve got net present value or project net present value of like twenty thousand dollars or fifteen thousand dollars we select the project with twenty thousand dollars because higher Net Present Value we select that project and then let’s say we’ve got two projects it is one rate of return is 1.5 and one is 1.2 we select the rate of returns equal 1.5 because it’s like 50 more on rate of return so these are the ways of selecting project these are different uh ways of selecting project remember these for a PMP examination very important Concepts please do like and subscribe my channel I wish you all the best bye