Project Management Concepts

  1. White elephant projects – high risk but provide low ROI. It originated from the Kings of Thailand: whenever they want to punish someone, they would give them an White Elephant. The animal required so many resources in terms of food and care that the receiver of such a gift almost inevitably went bankrupt after fairly short period of time.  Needless to say, killing an animal or even letting it escape into the wild was not a viable option because that would have been considered an insult to the king.
  2. Joker project – the project with very low scores to be placed at the top of the project portfolio. However, the executive management team feel that the project would generate millions for the company.

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