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A Manager’s Guide to Project Management: Learn How to Apply Best Practices by Michael B. Bender

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11. Projects as Capital Investments

The purpose of any project is to add value, and the value must outweigh the project cost. This is the basic concept for this chapter.

The value doesn’t need to be purely monetary. Consider a project to finish a basement. Although you certainly hope to add real value to your house, you recognize that the financial value added will likely be less than your investment. The additional value comes from enjoying the basement while you live in the house.

Organizations are no different. Not-for-profit organizations’ goals are not monetary (presumably). For-profit organizations recognize the need to invest in the organization’s culture—to develop mores that inspire honesty, hard work, respect, and personal growth. ...

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