The paper "Advantages of Strategic Project Management" is a good example of management coursework. In an organisation, projects are very critical for success. Through the projects, new or changed products, services or processes are developed (Callahan & Brooks, 2004). Projects make it possible for the sales to increase, enhance customer service and make a better working environment. A project can be defined as a time-constrained effort aimed at attaining a defined set of objectives through the use of a defined set of objectives (Ofer & Shlomo, 2006). Project management is associated with initiating, planning, controlling and closing a project.
Every project should have a link to the overall organisation strategy (Linetsky, 2008). Strategies determine how an organisation will compete. Through the use of projects, it becomes possible to convert a strategy into a product, service or process which is required for success. In modern organisations, project management requires strategy. This has led to strategic project management. According to Callahan & Brooks (2004), strategic project management is simply defined as the use of required project management knowledge, skills and tools in an organisation based on goals and objectives.
It is aimed at having outcomes that contribute to the organisation value in a manner that can be measured. This essay explains strategic project management and its importance in the organisation. The paper also explains the major factors that promote or inhibit the successful implementation of contemporary projects in the context of strategic project management. Strategic project management To gain an in-depth understanding of strategic project management, it is important to understand what strategic management is. Strategic management is defined as a process used in assessing the position an organisation is, deciding where it ought to be and how to get there (Larson & Gray, 2014).
Through strategy, it becomes possible to outline the way in which an organisation intends to compete based on the available resources, current and expected future environment. Strategic management makes it possible to respond to the external environment and also allocate scarce resources with the aim of improving the organisation competitive position. In past, project management had been associated with planning and executing projects. The strategy was not used and was considered to be for senior management.
At the moment, project management is carried out in relation to the organisation strategy (Callahan & Brooks, 2004). The role of the project manager has changed from being operational to being strategic. This has made it vital for the project managers to have an understanding of organisation strategy and mission. Through understanding the organisation strategy, it becomes easy for the project managers to make decisions as well as adjustments in their products. It also helps in setting the project deadline based on business needs. When project managers can understand the organisation strategy, they act as project advocates (Larson & Gray, 2014).
This allows them to explain to the senior management how the project contributes to the organisation mission. To come up with a contemporary project, one has to follow the strategic management process. This is through using the sequence of activities that are in a strategic management process. The first step is reviewing and defining the organisation mission. The mission helps in giving a focus to the project managers (Larson & Gray, 2014). Through the mission statement, the likelihood of having a false direction is reduced.
The mission is then used in setting the parameters to be used in coming up with the objectives. The second step is setting long-term goals and objectives. Objectives help in understanding where the organisation is heading and how it aims to get there. The third step is coming up with strategies to reach the set objectives. This is through analysing the business environment and coming up with a strategy that fits the organisation and within the acceptable risk range (Linetsky, 2008).
The strategies that have been set are then implemented through the project. During the implementation, it becomes possible to determine how the set strategies will be attained. The implementation process requires taking action to complete a task. This is only attained through allocating resources, supporting strategy and project, planning and control systems, motivation and lastly prioritising the project (Larson & Gray, 2014).
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