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  • gy66 replied to the topic Determining project priority in the forum Introduction to Project Management 6 years, 4 months ago

    This is a very interesting topic. Working at my company, I too have experienced project delays and cancelations due to multiple reasons. I think it is important to consider the finances when it comes to this topic. Every project is allotted a certain budget to be used for the duration of its development. This amount is determined based on the projected sales and profit of the end-product over a certain course of time. This careful determination ultimately limits the resources that can be given to certain projects. And with all of that said, the more ongoing projects there are, the more amount of money that the company collectively has to invest. Hiring more employees to be able to support all projects, including the low priority ones, eats away at the budgets of the projects and could very well require an increase in the budget for those projects as a result. With all of this spending, we may reach a point where we bite off much more than we can chew and wait extended periods of time for the end-products of all projects to payoff the increased spending costs. Therefore, I like to believe that there is some balance that needs to be determined before choosing to hire more employees for the sake of keeping projects ongoing.