Management: Policies Significance

THE STRATEGIC SIGNIFICANCE OF POLICIES TO PROJECT MANAGERS

 

 

1.Saves strategic time :

 

 

most policies are decisions that have already been made therefore if project mngrs come across such problems they do not have to make the decision again but proceed to execution straight away and hence saves time that would have been spent making the decision and opportunities that may arise can therefore be exploited promptly .

2.Helps us achieve standards/uniformity;

 

 

policies enable managers to achieve common standard /make uniform decisions .this will enable the company to avoid contradiction to our customers and the public & <stake holders>

3.Achieve positive organizational culture ;

 

 

enables managers to change peoples behaviors from negative to positive cultures that can support achieving project objectives.

4.Exploit emerging economic opportunities

 

 

Business policies enable the company to change its area of operation eg if the company has been operating in ky & bs opportunities has emerged in UG & TZ ,BS Policies will be used to transform the company from a national company to an East Africa company .

5.Compliance with Law

 

 

Policies enable companies to comply with the new legislation that affects the projects.

6.Optimum resource utilization ;

 

 

Policies will enable companies to utilize the

 

 

7.Relationship with stake holders

 

 

 

Corporate policies defines how company will relate with the external shareholders eg suppliers ,distributors,banks,general public etc,good relationship with the external shareholder

means that the company will gain support of all crucial stakeholders in executing a particular project.

8.Time management

 

 

Operational policies defines the duration of tasks & performing such tasks .therefore it enables project managers to meet the deadlines specified in project specifications.

 

9.Improving client satisfaction

 

 

Policies on how to receive orders on issues of quality .the delivery of projects ,the treatment of customers complaints etc can go along way in achieving client satisfaction .

 

 

 

Winstontony

Management Tutorial Africa

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