According to the PMBOK Guide, project selection is based on the alignment of the project with the organization's strategic objectives, which include maximizing the business value1. Business value is the net benefit that a project provides to the stakeholders, considering both tangible and intangible factors2. Projects that maximize the business value are more likely to contribute to the organization's success and sustainability than projects that focus only on duration, revenue, or risk3. References: 1: PMBOK Guide, 7th edition, page
35 2: PMBOK Guide, 7th edition, page 38 3: Project Selection Methods: A Primer for the Project Manager4