Project ManagementProject Portfolio Management

6 Strategic Projects Any Business Can Implement in 2016

In an effort to meet business objectives, companies will hold brainstorming meetings to plan which projects will help them meet their goals. Most projects are started because they want to generate more revenues, create growth opportunities, or pursue innovation. In an article for, Moira Alexander elaborates on six strategic projects that any business of any size can implement in 2016:

  1. Emphasize projects that support strategy.
  2. Reassess customer needs.
  3. Take on business process improvements (BPI).
  4. Reassess vendor service offerings.
  5. Review information systems and technology.
  6. Reestablishing human resources

Exploit Every Opportunity

No matter the size of the business, the first project of the year should be one that helps establish the direction of the business. Small businesses can accomplish this by appointing one person as the project manager, while larger organizations can transition their project management offices into enterprise project management offices. The goal of businesses is to meet the needs of their customers. Reassessing if customer needs are met will create the assurance that projects are successful. If their needs are not met, it is the perfect opportunity to assign resources to better meet the expectations of the customer.

The processes that were established when the business first began may no longer be relevant or needed. A growing business needs to evolve their processes in order to make them the most effective. And unfortunately, many businesses intend to make vendor- or service-offering changes, but they go about their day-to-day activities forgetting to do so. This causes them to waste money on things they do not even need:

As companies grow and change so do their needs. Often times their back-office functions in particular can no longer keep pace in a way that supports current and future business growth requirements or potential. For example, this may be of particular issue for many small to mid-market businesses owners who receive accounting related services that only provide after the fact, partial, and not necessarily relevant financial information; making unnecessarily difficult to make crucial decisions on time.

Advancements in the technology sector are always taking place, and it is important to continually assess which information systems your business actually needs. You do not need to abandon all of your current systems, just maybe reassess them to ensure you are utilizing things you need.

Lastly, reestablishing human resources is one of the most vital and difficult projects to execute. It might be the most rewarding though, because it creates opportunities for the employees. Determine how to derive the most value from using human resources and then match the skill sets to the job requirement.

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