Topics 1 Briefly describe a project of which you are aware, either through personal experience, observation or from your own research. Your assessment should contain 500 words. • Describe the method...

Project Management Competencies and Project Selection Methods     1
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Task 1
Introduction
A global project that has been significantly researched would be the Kochi Muziris biennale. The Biennale is a project between the Biennale Foundation, which holds arts festivals all over the world and the Government of Kerala in India. It is a global project, since there are artists are works of art that are donated from almost every country in the world.
Project Management Competencies and Selection Methods
The main method that would be used in order to select the project would be the financially focused, numeric models. This would be Payback and Return in Investment (Nauman, Khan & Ehsan, 2010). The selection model that might be used would be the fact that it is realistic, and flexible as well. The project would be extremely realistic, since with the formation of the Kochi-Muziris Biennale Foundation, the government would have to put in an initial cost and the foundation would be able to handle the Biennale. One of the main methods that would be used in the case of the Biennale would be Cost benefit ratio, since the state would hope to gain back the amount that is invested in the Biennale through National and International tourism. The return of Investment and Payback are similar methods, wherein the government, along with other major companies, would look at the return they would get in terms of tourism and advertisement, for sponsoring and investing in the Kochi Muziris Biennale project. Only if the investors feel that the payback, and the return of investment they get is worth the amount that is to be invested in the Biennale, would they select the project based on the selection criteria that they have. This would include looking at how well the project would be able to meet the goals and vision of the organizers, companies that are investing, and the values of the Government (Yang, Huang & Wu, 2011). Since the project does go into the field of Corporate Social Responsibility, and would be able to provide tourism, as well as advertisement for many of the companies...