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  • msc52njit-edu replied to the topic Determining project priority in the forum Introduction to Project Management 7 years, 6 months ago

    I think that low priority projects should be canceled to give more resources to other teams. In general, not just speaking in terms of importance regarding ankles and knees, not all projects are destined for success. From a financial point of view, in order to keep all of these resources teams running, the company will have to higher more individuals to work, which will cost the company money. Also, with more projects the company has to separate their money and resources. Rather than have 10 projects that each take about 3 months to complete, you can have 3 projects, where you can have more individuals working on a project. This can speed up how long it takes to complete the project and it ensures that everyone is still working. If there is a lot of projects that means that some may not be worth the time and money, and it better to invest in a project that you know will succeed rather than a lot hoping that a couple may succeed. Also, with more projects there is better chance that not all will even get finished because the teams are smaller, meaning that money can be wasted on extending a R&D project that could’ve be allocated elsewhere. Overall I think its better to invest in projects that a have a better chance in succeeding rather than taking a risk on a bunch of different project hoping some will be successful.