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A priority project is one that will bring in revenue when it succeeds or lose revenue when it fails. The project champion will move heaven and earth to make sure his bottom line does not get a smack.
If no one has identified revenue (even long term revenue as in infrastructure projects) as one of the success factors, then itwill fail.
And if, a project has priority merely because someone out a 1 in the priority column, that's not real priority. This project will fail, well before the year is up