Concept of Strategic Project Management - Coursework Example

Running Head: PROJECT MANAGEMENT Project Management Introduction Successful implementation of any project requires proper planning, coordination of the various activities that are involved in the project, and ensuring that the project management process meets the desired objectives of the project. This requires some strategy or tactic in terms of how to manage the different activities that are undertaken as part of a project. In regard to this, the purpose of this essay is to discuss the concept of strategic project management in regard to how the concept applies to the management of projects. The essay is structured as follows. The first part of the essay will define and discuss the concept of strategic project management. The second part will discuss why strategic project management is important in regard to the management of projects. The third part of the essay will discuss the major factors that promote or hamper successful implementation of contemporary projects with reference to strategic project management. Meaning of strategic project management The definition of strategic project management is related to the definition of a project. A project is defined as a temporary undertaking that is executed to come up with a new service, product or result (Larson, Honig, Gray, Dantin & Baccarini, 2014, p. 5). Strategic project management can be defined as a series of procedures, practices, tools and behaviors which, when taken into consideration together, define the degree to which an organization establishes effective relationships between admirable project management actions and excellent admirable business practices – all in an effort to attain the general goals of the organization (Heerkens, 2007). This definition implies that strategic project management involves all activities and behaviors that contribute to the successful attainment of an organization’s goals through the projects that the organization implements. The concept of strategic project management can also be defined as the process of being in charge of complex projects by having a combination of strategic thinking, project management and business analysis skills so as to implement the business strategy and to meet an organization’s objectives (Grundy & Brown, 2002a, p. 379). This means that strategic project management requires the people involved in the management of a project to be able to think critically, have effective project management skills, and possess business analysis capabilities. Examples of business analysis techniques include strategic, organizational, operational and financial analysis (Grundy & Brown, 2002a, p. 379). According to Grundy and Brown (2002b, p. 43), strategic project management involves five stages. The first stage is defining what the project is about. This stage involves looking at the scope of opportunities that exist in regard to a project. It also entails evaluating the objectives of the project, its possible benefits and the associated costs as well as risks related to the project. During the project definition process, the people that are involved also look at the key stakeholders of the project and the implementation difficulties that might arise when the project is in progress. The second stage of strategic project management entails developing the project strategy (Grundy & Brown, 2002b, p. 43). During this phase, the people who are responsible for managing the project analyze the internal and external positions of the project and how the positions are likely to change. The people involved also look at the different options that exist for implementation and how easy or difficult they are to implement. This makes it possible to identify any challenges that might be associated with any implementation strategy. As well, it is during this stage that the project management team identifies the stakeholders that need to be mobilized to ensure that the project is implemented. The third stage is detailed project planning (Grundy & Brown, 2002b, p. 43). At this stage, the project management team asks itself whether the timing of the project is appropriate. That is, it is important to know whether the project is suitable at the particular time that it is implemented. This involves looking at the resources that will be required, and when they will be required to deliver the desired project result effectively. In the fourth stage, the project management team implements and controls the project (Grundy & Brown, 2002b, p. 43). This entails evaluating whether the project is running as required or not. If the project is not being implemented as required, the reasons for this should be identified. The project management team also assesses any new implementation stakeholders or forces that may have come into play during the implementation of the project and how they need to be handled. For instance, the project plan may have been altered a bit, thus requiring additional resources or personnel to implement the project. It is also at this point that the project management team asks itself whether the initial objectives of the project need to be revisited, and whether doing so will help achieve the overall goal of the project in a way that is cost-effective, operational and in line with the aims of the organization. The fifth stage involves reviewing the project and learning about the activities that have been undertaken (Grundy & Brown, 2002b, p. 43). In this stage, the project management team asks itself whether the goals of the project were achieved. In case the goals were not met, the team evaluates the factors that could have been controlled to meet the goals but were not controlled. The team also looks at whether the original approaches to the project or their implementation plans need to be changed or revisited. The concerned people also ask themselves whether implementation difficulties experienced might have been much grater than anticipated, and if so, why this could have happened. Importance of strategic project management Strategic project management is important to organizations because by implementing projects following this approach, such organizations increase their competitiveness. Notably, project management enables organizations to come up with new projects and products or services that make them more competitive by staying ahead of their competitors (Larson et al., 2014, p. 11). Strategic project management also leads to the growth of knowledge since different alternatives are considered before the best approach to doing a given task is considered. Strategic prospect management is also important in today’s business environment where there is increased focus on sustainability. Companies need to make profits but they also need to have consideration for the environment and people (Larson et al., 2014, p. 11). Therefore, strategic project management can help organizations to come up with products and services that are socially, economically and environmentally suitable. Strategic project management is also important for organizations because it enables them to focus on the needs of the customer better (Larson et al., 2014, p. 11). If a given project is meant to come up with a new project, then following the strategic project management stages can help the project management team to ensure that the new product or service meets the needs that customers are expected to have. This can be achieved by ensuring that the goals of the project are aligned with the organization’s mission statement and strategy (Gardiner, 2005, p. 56). Major factors that promote or inhibit the successful implementation of contemporary projects The factors that have an impact on the successful implementation of contemporary projects include the nature of the project, the features of the implementing organization, and the nature of the project implementation process (Bikson, Law, Markovich & Harder, 1996, 2). These characteristics can promote or hinder the successful implementation of contemporary projects. To start with, the nature of the project has a major impact on the results and hence success or failure of the project. If the project is well thought out and planned and is relevant to the needs of the organization, then its implementation process is likely to be successful. In contrast, if a project is rushed or does not consider the needs of the organization, then its implementation is likely to be problematic since its goals and those of the organization may not be compatible. In regard to the nature of the organization, the implementing organization’s characteristics such as resources, size, and institutional framework are likely to affect how the organization implements projects. For instance, large organizations with many resources can easily implement new projects because of their ability to provide the resources required for such projects. On the other hand, small organizations with few resources may find it difficult to implement new projects successfully. As well, organizations that have a lot of bureaucracy may find it difficult to implement projects successfully because of organizational politics. The nature of the project implementation process may also promote or inhibit project implementation. This includes issues such as how the project is communicated and whether members interact. A well-communicated project that involves everyone’s participation is likely to be more successful than one that is implemented by only a certain group of people in an organization. Conclusion In conclusion, strategic project management involves all actions and behaviors that contribute to the successful implementation of an organization’s objectives through projects that are implemented by the organization. This is achieved through five stages: defining the project, developing the project strategy, detailed project planning, implementing and controlling the project, and reviewing the project and learning about its activities. Strategic project management is important to organizations because by adopting a strategic approach to project management, organizations are able to increase their competitiveness. The major factors that promote or inhibit the successful implementation of contemporary projects include the nature of the project, the characteristics of the implementing organization, and the type of project implementation approach that is used by an organization. References Bikson, T.K., Law, S.A., Markovich, M., & Harder, B.T. (1996). Facilitating the implementation of research findings: A summary report. Washington, DC: National Academy Press. Gardiner, P. (2005). Project management: A strategic planning approach. Basingstoke, Hampshire: Palgrave Macmillan. Grundy, T., & Brown, L. (2002a). Be your own strategy consultant: Demystifying strategic thinking – The cunning plan. London: Thomson Learning. Grundy, T., & Brown, L. (2002b). Strategic project management: Creating organizational breakthroughs. London: Thomson Learning. Heerkens, G. (2007). Introducing the revolutionary strategic project management maturity model (SPM3). Paper presented at the annual North American meeting of the Project Management Institute, Atlanta, GA. Larson, E.W., Honig, B., Gray, C.F., Dantin, U., & Baccarini, D. (2014). Project management: The managerial process (Australian ed.). Sydney: McGraw Hill. Read More