Reference no: EM133060132
Have you ever had a project or investment recommendation rejected? It can be difficult to accept that not everyone is going to see the merits of your ideas when it comes time to budget projects. In these situations, it is important not to give up on a good idea. Perhaps you need to improve your sales pitch and better define the value of the opportunity to other stakeholders of the organization. And remember, do not think of budgeting only as a limited resource; perhaps if you can partner with other departments who see the value of the idea, you can expand the budgeting resources available to you.
As you consider how to best justify a project or investment to the finance team and other stakeholders, it is important to examine why budgets for some projects or investments are rejected at your organization (or at one with which you are familiar).
To prepare evaluate a budgeting decision which rejected a new project or investment and consider how the idea could have been better justified.
Then, Post, your responses to the following:
-A description of an instance where a new project or investment was rejected and not budgeted at an organization where you have worked or with which you are familiar.
-An explanation of what metrics, if any, were used to justify the project and the reasons(s) for why the project was not funded. If metrics were not used, suggest at least two that could have been used and why those would have been appropriate.
-Then an explanation of how the project could have been better justified and potentially approved by means of a more complete financial analysis using budgeting tools studied this week (Payback Period, NPV, IRR, and MIRR). Provide a rationale for your conclusion.In describing this situation, use caution concerning confidential information. Be careful to not reveal any information that could harm the firm or any individuals associated with the firm, including you. Use pseudonyms for the firm and individuals to protect identities, and err on the side of caution in revealing any details.