A systematic approach to project portfolio selection for economic development in municipalities: a case study in Vienna, Missouri

Economic development is essential for the survival of all municipalities in the United States. Economic growth, created through project implementation, brings new capital into municipalities by increasing the tax base. Smaller municipalities often struggle to implement projects that promote economic growth. These municipalities run into problems because they lack resources to hire an economic consultant and capabilities to independently complete the strategic planning process. This thesis describes an easy-to-use and easy-to-implement systematic ten-step approach to project portfolio selection for economic growth within smaller municipalities...The ten-step approach was employed in a case study performed in Vienna, Missouri. The case study involved eight taxpayer-owned projects ranging in budget from three hundred dollars to over one-million dollars. A group of sixteen community members were involved in the application of the ten-step approach. By following the systematic approach, these community members developed a project portfolio for the City of Vienna aimed at promoting economic development