There is a growing awareness among MIS scholars and practiti oners that there is not "one best way" to manage MIS devel opment proj ects. Thi s paper addresses the questions, "What is the set of strategies from which we can choose?" and "On what basls shoul d we choose among the strategies?" The paper turns to the organization theory literature -- in particular the transaction cost approach -- for guidance in constructing a model for proj ect strategy selection. Recent MIS literature on project management is shown to agree, for the most part, with the model's recommendations. As an exampl e of how the model can be used to analyze organizational change, the paper uses the model to review the developments i n proj ect management strategies impl led by Nol an' s Stage hypothesis. The paper concludes with some thoughts on avenues for testing the model and on the model's implications for practice.