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Rank Candidate Projects: When requested, all Candidate Projects that are in the repository should be objectively ranked in order of significance. The ranking criteria should include Target due dates, Impact on the total business, Impact on the technology architecture, Impact on other applications, Project size, cost and duration and Project risk.

Use Criteria, This process is intended for proposed projects that… Are of significant size and will require a significant amount of time to complete. Must be tightly coordinated with other active projects. Will use new or emerging technology. Will require a new work process. Are intended for a new customer or unproven market. Will impact numerous departments or organizations. Are highly critical to the success of the business. Are a known high risk. This process is not intended for operational requests (Type 3) that may be handled directly by the IT Help Desk or small initiatives (Type 2) that are routed to IT Managers for immediate scheduling and execution.

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Before we begin explaining the importance of project management, it is important to understand what project management is and what it entails. Project management involves the use of various principles, procedures and policies that are established to guide a project from its conception stage all the way along until its completion.

Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.

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