Project management is an effective, straightforward way to assure that an organization’s overall strategy is successfully implemented throughout a company. But it’s only through the diligence and involvement of leadership that project management can gain the direction needed to do so.
Organizational Strategy and Determining Goals
This sweeping post by Alex Brown on his website explains not only what organizational strategy is, but also the various ways to determine goals, how to use Balanced scorecards, and how to communicate organizational goals to the project manager. The post continues from the general organizational structure all the way down to the individual project best practices, explaining how, for instance, project charters can help in assuring that projects are within the scope of organizational strategy, and also how Portfolio Management can help indicate what projects are or are not within that overall strategic effort:
The PMI Standard on Portfolio Management mentions the issue very briefly, in the area of authorization: “inactivating or terminating components of the portfolio … [and]reallocating budget and resources for inactive and terminated components.” (PMI, pp. 34-35) Mature organizations will need to periodically examine their projects and cancel those that no longer fit. Cancellation does not necessarily mean failure; the project might have developed useful work along the way. Cancellation does not mean it was a bad project; it might have been a good idea at the time, but no longer fit the organization’s strategy, which may have been altered by a changing marketplace.
Applying the PMI Standard to Portfolio Management
The article then discusses how to apply the PMI standard to Portfolio management and how project managers can serve an “essential, strategic role” in executing strategies set by executive management. In all, this post is a great tool to better understand how Strategic goals can be communicated to the organization, and likewise how project teams can make those goals a reality.
Read the full post here: http://www.alexsbrown.com/align-proj-strat.html