Answers:
Proper screening of project ideas plays an important role in ensuring the selection of the right project idea by an organisation. Once an organisation completes the initial screening of project ideas, it should then focus on evaluating the desirability of the shortlisted project ideas. For this purpose, an organisation can take help of the PRI. The process of the PRI
comprises the following steps:
1. Identifying the appropriate project rating factors
2. Allocating weights to each factor in such a manner that the sum total of the weight is equal to 1
3. Rating each project against each factor (generally, a 5-point scale or a 7-point scale is used to rate projects against each factor)
4. Obtaining total weighted score for each project by multiplying the score with the weightage of the factor