Strategic Management in Project Management - 722 Words

Introduction A Project is any undertaking that has definite, final objectives representing specified values to be used in the satisfaction of some service or need. The reason why companies undertake projects is because they come up with strategic intent, achieve better results and increase its competitive advantage. Project Success In the past projects success was measured using the â€Å"triple constraint†, delivering the project on time, within budget and to specification. Contemporary management of projects has shifted to being measured strategically. Consequently, the evaluation of the success of projects has also changed to incorporate parameters beyond the â€Å"triple constraint†. This led to project success being measured in four†¦show more content†¦It classifies projects on the degree of product and process change in the project. Here three types of projects that can be defined: a) Breakthrough projects- where there is extensive product and process change. b) Platform projects- where there is moderate product and process change. c) Derivative projects- there is modest or incremental product and process change. 3. Rogers’ Technology Adoption Life cycle- This is at the marketing strategy level and it targets customers and their characteristics. Here five types of customers are identified based on their expectations. a) Innovators – enthusiasts of new technology. b) Early adopters – visionaries and risk takers. c) Early Majority – the first customers in the mainstream market. d) Late Majority – conservatives who embrace change when it has become an industry standard. e) Laggards – resist change regardless of the pros or cons. Project strategy Is defined as â€Å"The perspective, direction and guidelines on what to do and how to do it; to achieve the highest competitive advantage and the best value from the project.† Most of these strategies are derived from the company’s intent or business plans which differ from department to department. Importance of project strategy 1. Helping in better results 2. Increasing value obtained from projects 3. Dynamic guidance of projectShow MoreRelatedProject Management : Project Strategic Management Essay1097 Words   |  5 Pages MGMT6054 Project Strategic Management Module #2 Organization Pressures, Structures NAME: Anisha Dmello STUDENT ID: 0783689 DATE: July 11th 2016 Table of Content 1. Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 2. Co-location Vs Virtual †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 3. Perfect Project Circumstances †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 4. Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 5. References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 8 Introduction Teams are an essentialRead MoreStrategic Project Management2969 Words   |  12 Pagesâ€Å"Projectification of the organisational world has resulted in apparent agreement that projects and project management are an efficient means of implementing organisational strategy.†(Haniff amp; Fernie 2009) | C11SP STRATEGIC PROJECT MANAGEMENT Read MoreOutline Of A Project Strategic Management1625 Words   |  7 PagesMGMT6054- Project Strategic Management NAME: Osamudiamen Amadasun TEAM NAME: Fortitude DATE: September 28th 2015 PROFESSOR: David McKenna TITLE: Group, Stakeholder List MODULE: 3 INTRODUCTION The purpose of this project is to identify and outline at least fifteen stakeholders that would be involved with the construction of a bridge from Port Stanley to Cleveland and a brief description how each stakeholder listed influences or is influenced by this project. 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The new wireless mobile phone mirroringRead MoreWhy Project Managers Need to Understand Business Strategy and the Strategic Management Process?1708 Words   |  7 Pages1) Introduction This report is produced to study the importance of aligning Project Management with Business Strategy and Strategic Business Process. Fundamentally, all Project Managers must have full comprehension of the bigger picture of an organization Business Strategy and its functional level game plan. This would help them with project operational level decision making as well alignment of projects alignment with corporate mission. . The report will be giving general analysis of inter relevance