This video explains the various project selection methods which helps to choose the best fit among alternatives.There are two methods using which projects can be selected. First one is ,benefit comparison method which is based on comparative approach ,and the second one is ,constraints optimized method which is based on mathematical approach.
Examples for Benefit comparison project selection methods are peer review, scoring model, economic model. Examples for constraints optimized methods are Linear programming, Present value PV, Net present value NPV, Internal rate of return IRR, Payback period, Return on investment RoI
Each of this project selection method is been explained clearly with suitable examples for better understanding.
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