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 believes developing and implementing standard control processes, integrated with planning and execution, will raise success rates.

In 3-5 pages, prepare a doc outlining your strategy to improve the organization's ability to select the most financially relevant projects and implement controls throughout the project life cycle to 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, development, political, organizational, and executive risks. Indicate what controlling measures should be taken at each phase of a project. 

Provide a survey of essential forecasting techniques. Outline the limitations and pitfalls of the various forecasting techniques.