Module 2- Project Life Cycle and Project Organisational Strategy

Key Takeaways

Key Takeaways

  • Project management is an ideal tool to support strategic planning and achieve strategic goals and objectives.
  • Projects selected should support the strategic direction and be consistent with the organisation’s existing or proposed goals and objectives.
  • Projects should always add value to the organisation’s strategic direction.
  • Projects should be consistent with changes in direction in the organisation’s external operating environment.
  • The use of project management can improve the strategy process and help reduce the gap between strategic planning and operations functions.
  • The Project Life Cycle is a core tool that guides the management of projects successfully from start to finish.
  • Every project goes through the Project Life Cycle, which is made up of four and/or five phases of the project management process.

 

 

Project Management Tip:

“Before pursuing a new service or product development, or improving an existing one, there must be a strategic alignment within the project and all elements driving the organisation.”

strategic alignment diagram
Figure 7: “Strategic Alignment” Carmen Reaiche is licensed under CC BY (Attribution) 4.0

 

Reflect on how each of these three sub-elements, including 1. Developing a strategic vision and sense of mission, 2. Formulating, implementing, and evaluating Cross-functional decisions, and 3. Achieving its objectives, are important in understanding the challenge of strategic project management.

Exercises

 

 

License

Icon for the Creative Commons Attribution 4.0 International License

Project Management: A Strategic Approach by Carmen Reaiche is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.