|Strategic Project Management mind map|
Necessity of Strategic knowledge for Project manager for a sustainable Organizational growth
- By Chandan Lal Patary, PMP
Project management is to execute the projects in time boxed manner with assigned cost. Whereas strategic management is managing, creating and delivering for the future. Strategy is where things are now and where things want to be. Combining both concept organization get “strategic project management “which is combining today and tomorrow! Is it worth to do? What will be the ultimate value out from this concept? Former GE executive turned business author Larry Bossidy
believes that it is part of a business leader’s job to communicate clearly where the business is going, why, and how the company will benefit t if goals are achieved. Many organization project managers are not aware about the organizational bigger pictures. The Gap starts building from this missing communication. Corporate-level strategy asks, “What business are we in?” Business-level strategy asks, “How do we compete?”And functional-level strategy asks, “How do we support the business-level
strategy?” and all operation manager/project manager should support the strategic projects.
Organization sustains by executing various projects. The projects could be aligning to the organization strategy or not, but organization get maximum benefit if all the projects fully align with the organizational strategic guidance. Project manager aware about the organizational strategic movement and execute the project based on the vision, mission and action in mind can contribute maximum to the organizational sustenance by executing the projects.
Project manager who are just looking into the Golden triangle (scope – time – cost- quality in (middle)) are just focusing on the right PM role which is executing project for organizational benefits. This tendency will provide fruitful result into short term goal may or may not contribute into long term organization vision, mission and action setup.
When discussion comes on Strategic management which is more on future oriented, Which is based on today’s strength and aligning organization with new upcoming dynamics if PM aware the points the roadmap strengthen based on the project managers real time exposure and experience and provide feedback up to the management. Senior management should take inputs from the bottom level managers. Projects are time boxed and project manager are rewarded If they achieve the Golden triangle properly. But project manager will miss the bigger picture in a process. Project manager should know if the project which he/she is executing is the right project for the organization. By executing the project organization will able to sustain in long run?
Project execution success is very critical for the strategically aligned project. Organizational growth depends on the success of those projects. Organization just should not take whatever projects come on its way. Competency, strength, business alignment has to consider while taking up new challenges.
Organization can not invest on something which strategically not suitable and later realizes the money has been not invested into right projects.
Organization X is experts in making software services for telecommunication domain. Strategically organization has decided to cater large telecom customer base in service. Due to one contact in healthcare client, organization has taken up one healthcare communication related work which require significant strength in health care segment to successfully execute the project. Organization has take up that project as challenge and business growth into newer area. As organization was not ready for the challenges strategically appears and execution land up into disaster with more cost involve which lead into reduction of the employee motivation and firing of many executive managers cripples the organizational long term growth.
Below points based on the observation and experience identified on the improvement on strategic project management approach.
I. In strategic project management we need to know who we are and where we want to go. If Project manager are not sure for both the above questions organization will lose the money invested into. By executing the projects organizational will achieve some competitive advantage and which can be a selling point for the future. If organization chooses the right project for executing which is aligning with the strength with the organization and will give competitive edge for the future that will be the best strategic project.
II. Upper management has to convey the right strategic direction to the project managers so that he/she can build the right decision and spirit.
III. The project manager has to escalate and constant communicate the right inputs to the upper management if he/she foresee any issues while executing the projects.
IV. It is better to kill the projects in whatever stage it is if the project is not going to serve the organizational strategic roadmaps and not generating values in long run.
V. Several organizations have burn the fingers by taking wrong decision to execute the wrong project. Project manager should ask the right questions to get the complete picture. Project manager need to know the complete road map so that right execute speed.
VI. All project managers should explore the different strategic tools to figure out correct strategic path and discuss with the upper management from his/her knowledge level.
VII. Project should look the rigorous competitive advantage organization will get by executing the right project all the knowledge has to capture into knowledge management tool for future decision making and reuse.
VIII. Strategic project manager should focus on best execution team to execution of the vision of the company. He/she should be a excellent people leader so that he/she can get the maximum strategic benefit out from the team.
IX. Organization should identify specific areas where organization should drive into the business. Project manager has to execute their best effort to successfully execute those projects without fail. Understand the scope, identify the issues and dependencies. On failure of those projects impact will be significant on organizational growth.
X. Project manager has to do the Gap analysis for the project and for the organization and come up with action plan. Goal setting based on the vision is the driver for the high motivation.
XI. Systemic thinking has to be the part of the overall planning process. Executing projects in silos and missing the connection is lead into disaster. By executing the project organization should achieve sustainable output in the form of process excellence or knowledge asset or some kind of competitive edge.
XII. Frequent interaction with the stakeholders, customers, end users is very crucial to understand the market requirements and formation of the strategic direction.
XIII. Once the right project has been marked standard monitoring and control approach has to deploy to get the expected output from the project execution. Measurement techniques ensure and increase the probability of the project execution success.
XIV. Special project which are drivers for market changes and aligned with strategic path has to give utmost care for near zero failure scope.
XV. While executing strategic projects all assumptions and roadblocks needs to consider. There should not be any failure case build upon with this assumptions and issues.