Write down a list of all the projects the company is to undertake. Knowing the task ahead helps to organize yourself and prepare for it.
Compile all the necessary information on all the projects on your list. Consult different faculties, such as project management function, marketing, as well as finance functions, involved in the execution of the projects to ensure the accuracy and consistency in your data.
Evaluate the value of the project by categorizing projects according to their overall benefits. Compare the initial cost of investment and the operational costs incurred by the projects with the expected benefits from the project depending on the company's financial ability and other available resources. Group projects with correlating executions, risks or benefits together so as to ease the management of these projects. Also, consider the company's area of expertise when grouping and selecting projects.
Arrange the projects from the most pressing to the least. Create an order of execution of the projects that allows for proper execution while minimizing running costs due to long periods of time between the projects or rushed projects thus warranting constant redo's or repairs on such projects.
Closely monitor project development to ensure that you do not lose track of the original project objectives. Though project objectives may change due to a number of factors, such as political interferences, limited resources, changing market trends, as well as changes in business goals, ensure that you stay focused on the original objectives. Such changes could lead to prolonged execution periods therefore increasing the cost of implementation or execution thus denying the company optimal benefits.