Managers regularly make decisions to select from competing project proposals those which they perceive are most likely to implement organisational strategy. Yet, little is known about what can enhance the quality of project selection decision making. Drawing on Regulatory Focus Theory, we aim to identify antecedents likely to impact project investment decision quality and explore whether effective leadership priorities can support this decision. The antecedents we examine are formal processes and target benefit setting. We propose a conceptual model and describe why it can be useful for organisations whose primary purpose is to anticipate and agilely respond to the future via strategy implementation and enhanced organisational performance.