STRATEGIC PROJECT MANAGEMENT
-Project management that is an Integration of strategic management with project management.
Therefore its a type of project management in which the top management team of a project analyses projects ,environment ,development strategies ,projects plans formulate project
strategies ,implement monitors ,Evaluate and control project plans to achieve the overall objectives of an organization in a dynamic and competitive project environment .
BASIC ELEMENTS /COMPONENTS OF STRATEGIC PROJECT MANAGEMENT.
Strategic project analysis – strategic project planning
Strategic project formulation – strategic project implementation
Strategic project monitoring & evaluation
Impact of Project Management Process.
-It involves using strategic analysis tools ie SWOT ,PERT analysis
Five forces model ,value – chain analysis ,functional analysis .The F’s formula portfolio ANALYSIS (eg – BCE & CE ) models to understand how different variables to may influence
project productivity .
Strategic Project analysis consists of :-
- Internal Environment
- External Env. Analysis
-It promotes commitments & loyalty of staff to the organization
-Vision statemen1t that is well developed will create a scene of belonging among all members
of the org. which will enable them to allow the organization as their own .
– Project that r being developed will therefore enjoy total commitments and loyalty staff.
Limitations/Disadvantage of a vision statement in PM
It’s a mere dream & its not accompanied by a practical strategy it remains a dream 4 ever .
It’s generalized in nature & may not accurately affect what management achieves
Most vision statement are developed by top management and the team’s lower management who are more critical in executing activities fail to be part
Highly qualitative and descriptive in natural hence doesn’t provide standard for monitoring ,evaluating and controlling projects.