Your project team has recently completed a successful major project. Your director wants to assign the next potential project to your team. A decision has not been made about which project your company will agree to deliver. You, the Project Manager, have been asked to evaluate three potential projects and based on the evaluation process, identify, and select the most profitable and feasible project to deliver for your company. After several meetings with the project sponsor of each project, it was discovered that the organisations of the two project sponsors have the following in common: . They deliberately want to increase revenue and maintain profitability. They believe that managing costs must be prioritised and one of the critical success factors; They promote efficiency and pay detailed attention to balancing the budget. They are quality focused, providing best service, reliable products/services and intend to achieve improved customer satisfaction. They ensure compliance, improved reporting, and transparency. PROJECT 1 COVID-19 REMEMBERANCE FESTIVAL: Many people were severely and negatively affected by COVID-19 losing many loved ones. This "walk for life" COVID-19 remembrance festival will be held at the stadium of the local city as a day to remember the good times. The event will consist of a day full of events starting with a 5km fun walk then a music festival with music entertainment in the form of 3 local artists as well as a number of food truck vendors suppling food and refreshments for the duration of the 5-hour after-party festival. Your company will be responsible to set up the stage, lighting as well as other equipment needed for the musical entertainment. You are required to sources at least 3 local musical artists to provide the 5-hours of entertainment. Other areas of responsibility would be to ensure food and beverage kiosks and Security hired to protect the stage, entrance to the venue and venue itself as well as security on the 5km route around the stadium to ensure all walkers are safe. Your company will however NOT be responsible for running the festival. So, the following is NOT part of your project: . . Sponsorship. Marketing and social media. Licensing for the outdoor event. Designing, printing & selling of tickets This will be open to the public yet other similar events shall be held internationally so the significance is world-wide. It is an opportunity to bring the practices associated with strategic project management to the fore & develop a benchmark for good practice in similar environments. Pay attention to the following project information: Cost R50 million Return on Investment Time to market Risk factor Chances of success 10% 6 months Low High PROJECT 2 Construction of a Medical Clinic Many people were severely and negatively affected by COVID-19 losing many loved ones. There is need to construct a medical clinic to service one community in which, many people had to travel a long distance in order to reach a clinic facility. Pay attention to the following project information: R50 million 10% 36 months Cost Return on Investment Time to market Risk factor Chances of success Low High (Marks: 10) Question 1 Project Selection: Using an appropriate set of criteria, evaluate the two projects by use the steps in the project selection process to outline how you would go about selecting the project. Include in your answer, your final answer decision as to which of the two (2) projects you have chosen and provide justification. Refer to the Question 1 marking rubric provided at the end of the assignment.