This is the 2nd lesson of Foundation of Project Management - Organisation Strategy and Project section in Project Management.
Strategy is fundamentally deciding how the organization will compete. Organizations use projects to convert strategy into new products, services, and processes needed for success.
Aligning projects with the strategic goals of the organization is crucial for project success. Today’s economic climate is unprecedented by rapid changes in technology, global competition, and financial uncertainty. These conditions make strategy/project alignment even more essential for success. Every major project needs to have a strong linkage to the strategic plan. Ensuring a strong link between the strategic plan and projects is a difficult task that demands constant attention from top and middle management.
With these views, the key learning outcomes of this lesson include:
1 Explain why it is important for project managers to understand
their organization’s strategy
2 Identify the significant role projects contribute to the strategic
direction of the organization
3 Understand the need for a project priority system
4 Distinguish among three kinds of projects
5 Describe how the phase gate model applies to project
management
6 Apply financial and nonfinancial criteria to assess the value of
projects (criteria in order to decide)
7 Understand how multi-criteria models can be used to select
projects
8 Apply an objective priority system to project selection
9 Understand the need to manage the project portfolio
This is a comprehensive lesson plan for about 1.5 hours includes a well-prepared PowerPoint presentation, with video links, interactive exercises, in-depth case studies, and associated reading materials, designed to provide a holistic learning experience. The materials are based on “Project Management: The Managerial Process” of Clifford Gray (Author) and Erik Larson.
We wish you all the best for the study, and should you have any further questions, please get in touch.
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