Your company has seen important internal projects go off track during execution. After-the-fact analysis has revealed the common factors of inadequate controls and poor project selection. Management now believes that developing and implementing a set of standard control processes, integrated with both planning and execution, will raise success rates.

In a 3-5, page paper prepare a document that will outline your strategy to improve the organizations ability to select the most financially relevant projects and for the implementation of controls throughout the project life cycle that will help assure project success. Explain the concepts of internal rate of return, net present value, and payback and describe how each of these concepts will be used to select the best projects for the organization.

Discuss project financing and explain your recommendations for managing financial risk, development risk, political risks, organizational risk, and executive risks.

Indicate what controlling measures should be taken at each phase of a project.

Provide a survey of important forecasting techniques.

Outline limitations and pitfalls of the various forecasting techniques.