...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 “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 “triple constraint”. This led to project success being measured in four dimensions according to Shenhar 1. Dimension 1- Efficiency; measure of whether the project was completed on time and within budget. 2. Dimension 2- Impact on the customer; ensuring that the specifications were met and required service/production is delivered while adhering to good quality. 3. Dimension 3-Impact on business; an analysis of return on investment, return on equity, increase in profits and other revenues to the business after project implementation. 4. Dimension 4- Building for the future; what new developments or positive opportunities were brought about by the project e.g. new market line or infrastructure. Using these four dimensions there are 2 types of projects. 1. External customer projects aimed to create products and services...
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...vs. Project Goals * Strategic management involves both short-term and long-term planning to assist a business in reaching goals e.g worker productivity, improving marketing strategy and production operations. Project management involves the short-term goals of creating a service, program or product that meets customer satisfaction, while striving for the same goals regarding productivity, marketing strategy and production operations. Summary - Strategic management goals involve the entire business striving for future success, while Project management goals focus just on the current product's or program's future success. Product Risks vs. Financial Risks * Project management evaluates product risk based on whether the product will achieve current customer satisfaction. Most project management involves quality assurance tests to review the project's or product's functionality for success or failure. Although the product line is essential for strategic management, in terms of creating a marketing strategy, strategic management must plan for the financial risk of a changing market i.e strategic management must plan on how to respond to changing situations concerning the project and how those changes would affect the business overall. Summary-Strategic Management focuses on the financial risk of undertaking a particular project while Project Management focuses on the product risk of a particular project. Business Procedures vs. Project Procedures * Strategic management revolves...
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...Project and Strategic Portfolio Management Portfolio management is a situation where all projects are managed from one central point to achieve the desired results (Project Management Institute, 2013). The desired outcomes are predetermined, and strategies have to be put in place to meet them. Portfolio management ensures that there is a continuous review done on projects so as to determine which area requires priority and resources are allocated to those areas on the weight of their urgency (Project Management Institute, 2013). Strategic planning plays a significant role in helping an organization put in place mechanisms that will ensure the survival of the organization. Strategic planning helps the organization to strategize accordingly so that it is not left out when other organizations are making strides towards achieving their objectives (Kerzner, 2013). A portfolio manager is mostly worried about the success of the entire portfolio instead of a single entity in the portfolio. In case of any decision, then the whole portfolio is considered and not a single entity in the portfolio. It can, therefore, be said that a portfolio acts as a link between the programs of an organization and the strategies that the organization has put in place (Kerzner, 2013). The programs and the plans need something that can link them, and that thing becomes the portfolio. Strategic considerations that would make an organization put in place measures that would ensure its survival include market...
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...Strategic Issues: The Pivotal Process for Strategic Success Thomas E. Ambler Senior Consultant, CSSP, Inc. Tom Ambler REALIZE YOUR POTENTIAL! Is that what you want for yourself and your company? What is your company’s potential? Do you have a vision of it? Yes? That’s why you use Simplified Strategic Planning, isn’t it? In the Simplified Strategic Planning process you build toward your strategy - your vision for the longer term, the course and direction you need to take to maximize your potential. Then, for the short term you make sure that your resources line up and are focused on achieving your vision. Good strategy takes more than just strong desire. Good strategy requires good input and analysis. It also requires good decision-making. That’s what the exercise known as “STRATEGIC ISSUES” is all about. It is a pivotal step in the strategic planning process that deals with answering the “Big Strategic Questions.” Successful identification and resolution of Strategic Issues results from combining both content and process elements, big and small, effectively and smoothly. What is a Strategic Issue? A Strategic Issue is, first of all, an issue - an unresolved question needing a decision or waiting for some clarifying future event. Secondly, it is strategic and has major impact on the course and direction of the business. It probably relates directly to one or more of the fundamental “Three Strategic Questions”: •What are we going to sell? •To whom are we going to sell it...
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...Strategic Project Management Made Simple Name Institution Strategic project Management Made Simple According to (Williams, 2009), a strategy is a plan of how to achieve formulated goals. It enables an organization to achieve its vision and its objectives. Strategic planning process determines the path that an organization will follow to meet its goals (Kerzner, 2001). In this paper, my aim is to summarize a review on strategic project management. The report talks about the logical steps of strategic project management process. I agree with the review that strategic management is a critical determinant of the success of an organization. The logical framework primarily involves strategic planning, systems thinking, management by objectives and total quality management. Others incorporated in the structure are scientific method, project management, and team building. In all these steps of logical structure, systems thinking are the foundation of the framework. The review also talks about strategic questions; these questions are also explained in various diagrams. The questions are based on goals, success measures, assumptions, verification, purpose, outcome, and inputs. These questions when combined, they form the logical framework matrix. I agree with this model as it is important in showing the progress made towards achievement of objectives. The review also touches on strategic alignment; this alignment is enabled by the formulation of attainable goals which focuses...
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...first listed the thesis projects that are available to do for companies and organizations. If you are interested in these projects, please mark the topic to the Indication of Interest Area form the same way than any other topic. It should be noted that the students selected to do the thesis from these topics must be motivated and committed for the work. Please do not contact these organizations yourself before the selection process has been completed for all students. More information on topics can be asked from Mari Syväoja or Tomi Heimonen. Organization: Thesis Biofenno projects for (www.biofenno.fi) companies and organizations Selected Thesis Topics for companies and organizations Internationalization plan Plan how to take and promote product Tuovi Tuotevirtakirjanpito to EU markets. Tuovi Tuotevirtakirjanpito is a stock and feed recording program for organic farmers. It produces necessary stock and feed reports for annual inspection. Also stock balance reporting benefits farm managements. Because Tuovi Tuotevirtakirjanpito complies with all the regulations EU has set for organic farmers, it has possible markets in EU. Aalto School of Competitive environment of Small Business Center Business, The Aalto Small Business Center wants to produce an analysis of their competitive environment in Small Business Center terms of areas of expertise, product segments etc. in order to differentiate themselves from their (www. competitors and to clarify their strategic areas of competence...
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...Strategic Management Case Study Project “Mission Statement Evaluation Matrix” Introduction: Perhaps the best way to develop a skill for evaluating mission statements is to study actual missions. There is no one best mission statement for particular organization, so a good judgment is required in evaluating mission statements. Evaluation of a mission statement regarding inclusion of the nine components is just the initiation of the process to assess a statement’s overall effectiveness. Effective statements should include nine components that can be understood well by the following examples of mission statements and their evaluation matrix. Components of the Mission Statements: 1- Customers 2- Products or services 3- Markets 4- Technology 5- Concern for survival, growth and profitability 6- Philosophy 7- Self Concept 8- Concern for public image 9- Concern for employees We have used the mission statement evaluation matrix to analyze the effectiveness of mission statements of three major companies working globally. Mission Statement of Nestle: “Good food is a primary source of god health throughout life. We strive to bring consumers foods that are safe, of high quality and provide optimal nutrition to meet psychological needs. In addition to nutrition, health and wellness, Nestle products bring consumers the vital ingredients of taste and pleasure” Analysis: I. Customers Customers have been prioritized for safe, high quality and optimal...
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...Maria Giulia Nisii Katarzyna Rybak STRATEGIC MANAGEMENT PROJECT ON SAP AG TABLE OF CONTENTS 1. Executive Summary…………………..…………….……………. Pg 3 2. Description of the Company....……………………..…………….. Pg 5 3. Business Software Industry Analysis…………………………….. Pg 7 4. SAP Internal Analysis……..………………………….………….. Pg 11 5. SAP Competitive Strategy..……………………………………… Pg 15 6. SAP Vertical Integration…………………………………………. Pg 18 7. SAP International Strategy………….……………………………. Pg 20 8. SAP Non-Diversification and Sybase Acquisition……………...... Pg 23 9. SAP Strategic Alliances.………….………………………………. Pg 26 10. Conclusions and Recommendation…………………………........ Pg 28 11. References Section..………………..……………….………..….. Pg 30 1. Executive Summary We are two students of Carlos III University of Madrid and our report purposes were the ones of detecting the main lines of SAP strategy and finding out which were the key success factors for the company. SAP AG is a German multinational software corporation that makes enterprise programs to manage business operations and customer relations. It is one of the largest software companies in the world and is the market leader in enterprise resource planning applications (ERP programs). First of all, to start our research, we identified how the business software industry was looking like to understand the company’s surrounding environment. The industry of e-business is using Information Technology (IT) and the Internet to conduct business in order to operate...
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...“Mission Statement Evaluation Matrix” Introduction: Perhaps the best way to develop a skill for evaluating mission statements is to study actual missions. There is no one best mission statement for particular organization, so a good judgment is required in evaluating mission statements. Evaluation of a mission statement regarding inclusion of the nine components is just the initiation of the process to assess a statement’s overall effectiveness. Effective statements should include nine components that can be understood well by the following examples of mission statements and their evaluation matrix. Components of the Mission Statements: 1- Customers 2- Products or services 3- Markets 4- Technology 5- Concern for survival, growth and profitability 6- Philosophy 7- Self Concept 8- Concern for public image 9- Concern for employees We have used the mission statement evaluation matrix to analyze the effectiveness of mission statements of three major companies working globally. Mission Statement of Nestle: “Good food is a primary source of god health throughout life. We strive to bring consumers foods that are safe, of high quality and provide optimal nutrition to meet psychological needs. In addition to nutrition, health and wellness, Nestle products bring consumers the vital ingredients of taste and pleasure” Analysis: I. Customers Customers have been prioritized for safe, high quality and optimal nutrition with products having...
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...Abstract The purpose of this paper is to identify a strategic management plan of a healthcare organization. My selection is a false managed care organization called GreenLine that is based on a well-known health insurance company that provides a variety of health care plans . In this paper the following will be discussed: factors affecting managed healthcare organizations, strategic initiatives, financial information, and organizational structure. Socioeconomic Factors Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family’s economic and social position in relation to others, based on income, education, and occupation. Socioeconomic status is typically broken into three categories: low, middle, and high SES. Income has been shown to have a heavy effect on whether families will purchase health care insurance and it’s been proven that people with lower incomes tend to have more problems physically and mentally. Most diagnosis seen are respiratory viruses, arthritis, coronary disease, and schizophrenia. Lower socioeconomic status is also been said to link to stress. Legislative Factors Most recently there has been the ongoing implementation of Patient Protection and Affordable Care Act in the United States which affects all managed healthcare companies and businesses with more than 50 employees. Patient Protection and Affordable Care Act consists of a combination of measures to control...
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...How Strategic Portfolio Management relates to Project Management Derilene McCloud CPMGT/301 January 11, 2016 Michael Koma How Strategic Portfolio Management relates to Project Management Strategic portfolio management is the centralized management of one or more portfolios. A portfolio is a collection of programs, projects and operations managed as a group. These programs, projects, and services may not necessarily be related or interdependent, however, they are managed together as a group to achieve the strategic objectives of the organization. Strategic portfolio management includes selecting the right programs and projects, prioritizing the work, assigning resources, authorizing, managing, and controlling other related work to achieve the organization's strategic business objectives (Kerzner, 2013). Conversely, project management develops and implements plans to achieve a particular scope that is driven by the goals of the program and portfolio that aligned to the specific organizational strategy. While both strategic portfolio management and project management need to align with the organizational goals and objectives, it is important to understand the similarities and differences between the two disciplines, and how each one contributes significantly to the organization's strategic objectives. Project management is focused solely on achieving specific deliverables that support key organizational objectives. The deliverables could be to create a unique...
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...The Board of Directors for ABC Complete Kitchens, Inc. has one more requirement for you before they are ready to turn operations over to the executive team. The board members would like your input regarding leadership of the new plant and the strategic environment in which the plant will operate. They have requested that you prepare a detailed description and discussion of the strategic environment, internally and externally, that will help formulate an overall strategic plan for the new manufacturing plant. For this assignment, your requirement is to research and create a presentation that describes and discusses the strategic environment of the new manufacturing plant using a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis process. Your analysis should consider not just the new start-up plant, but also the manufacturing industry as a whole. Be sure to include citations for quotations and paraphrases with references in APA format and style. Make sure your presentation follows good PowerPoint design principles (e.g., readable font, uses one template, one-inch borders around the slides) and contains transitions, builds, and animation when appropriate. The last slide(s) in the presentation should be the list of references you used for the assignment in APA format. For this assignment, you do not need to use outside resources and references for the PowerPoint presentation. All the information you need for this assignment is included within the custom-published...
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...Strategic Management Project: Module 1 1. Give a short account of the history of the company, and trace the evolution of its strategy. Try to determine whether the strategic evolution of your company is the product of intended strategies, emergent strategies, or some combination of the two. Walgreens has a long history spanning over a century. Charles Walgreen founded his first store in 1901. His first store was in Barrett's Hotel in Chicago's south side. The early stores experimented with many entrepreneurial ideas. The algreens.com web site, under the Our Past section, states, "Walgreens continued to come up with new, important ways to service customers and - just as importantly - employ thousands of people during this period of extreme economic distress"(5). Walgreens had flourished during very hard economic times, and had 500 stores by the 1930s. Early Walgreens stores used soda fountains to increase revenue. Walgreens became a publicly traded company in 1927. They started radio advertising in 1931. Charles Walgreen died in 1939 at the age of 66. Walgreens is growing faster now than ever before. The Walgreens.com web site, under the Our Past section, explains, "Today, with 500 new stores opening each year and 7,000 Planned by 2010, Walgreens continues to innovate"(7). Walgreens has always maintained a simple strategy. Although the strategy changed over the years to mention newer innovations, the basic principles of the strategy have remained similar. The Walgreens.com...
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...OVERVIEW 3 3. PROBLEM IDENTIFICATION 5 4. SOLUTION 6 4.1. Establish Strategic Transformation Programme Office (Step 1) 9 4.1.1. Leadership Responsibilities 9 4.1.2. Authority, Responsibility and Accountability System 10 4.1.3. Reporting Structures and Communications 12 4.1.4. Strategic Transformation and Change Roles and Responsibilities 12 4.2. Strategic Analysis (Step 2) 13 4.2.1. Core Business and Competency 13 4.2.2. Preferred Culture 13 4.2.3. Create a Value System to Promote a Preferred Organisational Culture 13 4.2.4. Create a Vision and Mission of the Future 14 4.2.5. Create a Strategy Map 14 4.3. Strategic Development (Step 3) 15 4.4. Strategy Implementation (Steps 4 & 5) 16 5. RECOMMENDATIONS 17 6. CONCLUSION 17 7. BIBLIOGRAPHY 18 List of Figures Figure 1: Different steps 7 Figure 2: BSPM learning organisation value chain schematic 8 Figure 3: Shared Authority, Responsibility and Accountability 10 Figure 4: Programme structures for portfolios adapted from Steyn and Schmikl (2010: 130 11 Figure 5: Strategic Transformation Project-Portfolio adapted from Steyn et al. (2010: 79) 11 Figure 6: Establish Programme Office adapted from Steyn et al. (2010: 80) 12 Figure 7: Developing Strategic Options adapted from Steyn et al. (2010: 82) 15 List of Tables Table 1: Problems Identified against performance improvement strategies 5 Table 2: Strategic Transformation Programme Management Process 8 Table 3: Differences between Vision and Mission 14 Table...
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... The Strategic Management of Projects The concept of Managing projects describes the organisation’s ability to select, nurture and deliver projects and programs effectively. The strategic capability to manage projects1 expands this general concept to include the direction of the organisation’s overall Project Delivery Capability (PDC) towards the achievement of its strategic objectives. The strategic management of projects includes all of the aspects of project delivery discussed in our white paper PDC Taxonomy2 (outlined below) focused on realising strategic value for the organisation. In many organisations, implementing an effective and rigorous PDC structure will require a major organisational change effort and will challenge existing cultures, particularly the tendency of executives to focus on project failure rather than organisational failure when their organisation fails to adequately support the management of its projects. 2 The PDC Architecture outlined in WP1074 – PDC Taxonomy 1 Strategic project management has many different terms for the same general set of management capabilities required to support the efficient delivery of the ‘right’ projects and programs. Some options include: - The Management of Projects: Prof. Peter Morris’ concept - Enterprize Project Management: tends to be used for the supporting software tools - Enterprise Project Governance: (used in a book by Paul Dinsmore & Luiz Rocha) focused on How to Manage Projects Successfully...
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