The paper "Concept of Strategic Project Management" is a perfect example of management coursework. Successful implementation of any project requires proper planning, coordination of the various activities that are involved in the project, and ensuring that the project management process meets the desired objectives of the project. This requires some strategy or tactic in terms of how to manage the different activities that are undertaken as part of a project. In regard to this, the purpose of this essay is to discuss the concept of strategic project management in regard to how the concept applies to the management of projects.
The essay is structured as follows. The first part of the essay will define and discuss the concept of strategic project management. The second part will discuss why strategic project management is important with regard to the management of projects. The third part of the essay will discuss the major factors that promote or hamper the successful implementation of contemporary projects with reference to strategic project management. Meaning of strategic project management The definition of strategic project management is related to the definition of a project.
A project is defined as a temporary undertaking that is executed to come up with a new service, product or result (Larson, Honig, Gray, Dantin & Baccarini, 2014, p. 5). Strategic project management can be defined as a series of procedures, practices, tools and behaviors which, when taken into consideration together, define the degree to which an organization establishes effective relationships between admirable project management actions and excellent admirable business practices – all in an effort to attain the general goals of the organization (Heerkens, 2007).
This definition implies that strategic project management involves all activities and behaviors that contribute to the successful attainment of an organization’ s goals through the projects that the organization implements. The concept of strategic project management can also be defined as the process of being in charge of complex projects by having a combination of strategic thinking, project management and business analysis skills so as to implement the business strategy and to meet an organization’ s objectives (Grundy & Brown, 2002a, p. 379). This means that strategic project management requires the people involved in the management of a project to be able to think critically, have effective project management skills, and possess business analysis capabilities.
Examples of business analysis techniques include strategic, organizational, operational and financial analysis (Grundy & Brown, 2002a, p. 379). According to Grundy and Brown (2002b, p. 43), strategic project management involves five stages. The first stage is defining what the project is about. This stage involves looking at the scope of opportunities that exist in regard to a project. It also entails evaluating the objectives of the project, its possible benefits and the associated costs as well as risks related to the project.
During the project definition process, the people that are involved also look at the key stakeholders of the project and the implementation difficulties that might arise when the project is in progress. The second stage of strategic project management entails developing the project strategy (Grundy & Brown, 2002b, p. 43). During this phase, the people who are responsible for managing the project analyze the internal and external positions of the project and how the positions are likely to change.
The people involved also look at the different options that exist for implementation and how easy or difficult they are to implement. This makes it possible to identify any challenges that might be associated with any implementation strategy. As well, it is during this stage that the project management team identifies the stakeholders that need to be mobilized to ensure that the project is implemented.
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