Project Portfolio Management

Prioritize Projects to Align with Strategic Plan

Project Must Contribute to Strategic Efforts

Your company’s strategic plan must play directly into your project management. Point in fact, the very project you’re working on must be contributing directly to the strategic efforts of your company. Ensuring this link requires prioritization, first and foremost, as explained in this blog post by George Sifri on Tech Republic.

The strategic management process begins most often with the customer (what they need) and then is translated into the organization (what we want to become). These lead to goals and to tangible efforts to achieve those goals. Organization’s goals, however, are hard for teams to grasp, so even these are broken down into individual efforts and tasks. Successful organizations frame goals in such a way that teams must ask how to achieve the goals (and be able to answer that question, too): 

Development of Strategies

The development of strategies to meet these needs and goals should focus on “what we need to do to achieve these goals.” It requires an extensive analysis of the internal and external environments. Based on a political, economic, social, and technological analysis (PEST), we analyze the external environment to identify opportunities and threats. We analyze the internal environment by looking for strengths and weaknesses such as management, facilities, core competencies, product quality, technology, and financial resources. The deliverable of this analysis is a set of strategies designed to best meet the needs of the customers.

As explained later in the post, clear steps must be taken in order to create a strategic management process:

  1. Define and review mission
  2. Analyze external and internal environments
  3. Identify goals and objectives
  4. Formulate strategies to achieve objectives
  5. Implement strategies through projects


Everything is Connected

Each of these steps is dependent on the other, obviously, though the levels of the organization that are concerned with each question is certainly different. For instance, executive level management looks at the mission and defines it, whereas it’s the business of project leaders and team members to implement strategies within the projects themselves.

Read the full article here:

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