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A non-profit organization has limited funds and must decide whether to allocate

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Question: A non-profit organization has limited funds and must decide whether to allocate resources to a new project or continue funding an existing one that is less effective. What should they prioritize?

Options:

  1. New project
  2. Existing project
  3. Equal funding
  4. Seek additional funding

Correct Answer: New project

Solution: 

The organization should prioritize the new project if it has the potential for greater impact.

A non-profit organization has limited funds and must decide whether to allocate

Practice Questions

Q1
A non-profit organization has limited funds and must decide whether to allocate resources to a new project or continue funding an existing one that is less effective. What should they prioritize?
  1. New project
  2. Existing project
  3. Equal funding
  4. Seek additional funding

Questions & Step-by-Step Solutions

A non-profit organization has limited funds and must decide whether to allocate resources to a new project or continue funding an existing one that is less effective. What should they prioritize?
  • Step 1: Identify the goals of the organization and what they want to achieve.
  • Step 2: Evaluate the effectiveness of the existing project. How well is it meeting its goals?
  • Step 3: Assess the new project. What are its goals and how much impact could it have?
  • Step 4: Compare the potential impact of the new project with the current project's effectiveness.
  • Step 5: Consider the resources available. Can the organization afford to fund the new project?
  • Step 6: Make a decision based on which project aligns better with the organization's goals and has the potential for greater impact.
  • Resource Allocation – The process of deciding how to distribute limited funds among competing projects.
  • Impact Assessment – Evaluating the potential effectiveness and benefits of a project compared to existing initiatives.
  • Opportunity Cost – The potential benefits lost when choosing one option over another.
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