The Keflavik Paper Company problem of determining a project management process for new product development.

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Read the case study 3.1 on pages 103–104 of the text.
The Keflavik Paper Company is a case with the problem of determining a project management process for new product development. Answer the following questions:
What does this case demonstrate about the effect of poor project screening methods on a firm’s ability to manage projects effectively?
How would project portfolio management help to improve the situation at Keflavik?
If you think about it, all business problems are case studies. To effectively evaluate the situation, you must approach the problem in a methodological manner. A proven technique to do this is to
1. list the facts;
2. identify the issues;
3. based on the facts of the case and your knowledge, analyze the issues of the case;
4. prepare recommended solutions and their possible outcomes;
5. implement the optimal solution (not always the one with the best outcome, since the cost or other things could be impractical); and
6. monitor the implementation and the outcomes.
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