How do companies prioritize which project to select first?

Prior to completing this discussion, please read the assigned page ranges in Chapters 2, 3, and 4 in your textbook and the Weekly Lecture.

It seems like every organization has more projects to complete than the amount of resources they have available to work on those projects. In this situation, how do companies prioritize which project to select first? There are a variety of thought processes and tools used to choose projects. Choose a tool that has not been discussed widely in the discussion thread, and explain how the tool is useful while adding to the class’s body of knowledge.

Your initial response should contain at least 200 words and be supported by at least one additional Scholarly, Peer Reviewed, and Other Credible Source  (Links to an external site.)(other than the textbook or required reading).

Required Resource

Text

Schwalbe, K. (2017). An introduction to project management (6th ed.). Retrieved from https://redshelf.com

• Chapter 2: Project, Program, and Portfolio Selection (read pages 44-57)
• Chapter 3: Initiating Projects (read pages 84-94)
• Chapter 4: Planning Projects, Part 1 (Project Integration and Scope Management) (read pages 119-135)