Project Management Discussion Post, management homework help

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Business Finance

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Answer should be informal, and around 2-3 paragraphs with 2 in-text citations from internet sources. See below for question. (I check for plagiarism using TurnItIn)

Suppose that you have been assigned as the project manager to execute a project that was selected using the sacred cow method of project selection. The project sponsor is an executive who has been with the company for three years. Based on past employment history, the average tenure of a senior executive at your company is 5 years. After reviewing the project’s expectations and requirements, the project team has determined that the payback period will be 3.5 years. Discuss the implications for you and the project team.

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Explanation & Answer

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Project Selection and Risk Management
In a sacred cow project selection model, the an undeveloped idea is initiated after a senior
or a powerful official suggests it to other project management teams who start working on this
project and turn the official’s idea into a new product, a new market, or requiring resources for
some other project (Zeepedia (2017)). This project is terminated either when its outcomes have
bee...


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