Results are often not measured or not measurable. The activity can create the illusion of progress, but the paybacks can be disappointing. The technique of running projects in the midst of a line organization is referred to as matrix management. This can be effective if managed properly, but can create chaos if not. Many good books on the subject exist and should be consulted before beginning multiple projects.
Careful planning is absolutely essential to successful projects.
The tasks must be properly sequenced and staffed. Outside help from others in the company must be planned for, requested and approved. A steering committee should exist, and periodic reviews and approvals scheduled. The anticipated payback should be tested and retested as facts are assembled. Clear phases of work must be identified.