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This paper will evaluate the various reasons why organizations are using Project Management to achieve their strategic objectives. It will focus on the view of projects as investments rather than being likened to investments. The paper will evaluate the application of the various doctrines of strategic project management that project managers use to accomplish the strategic objectives.
Project management generally takes the form of a decision tree (Fig. 1). Goodwin and Wright, (2009) observe that after developing the strategic objectives, the managers evaluate the current situation or status of the organization. This is a starting point that is necessary to determine the next course of action. Project management is therefore preferred because it answers the question of whether the organization has attained its maximum capacity (Chapman and Ward, 2003). If not, the managers engage in assessing the constraints to establish if their cause is known or not. From this point, if the causes of the constraints are known, ways of alleviating them can be determined. If they are not known, investigations are undertaken. Such procedures help organizations to apply a straightforward approach to solving problems (Kendrick, 2009).
Many contemporary organizations undertake different projects depending on their significance to organizational productivity (Dale et al. 2007). In many situations, different departments in the organization come up with projects that compete for the available finances. They have different impacts on the overall organizational performance and priorities need to be set depending on the organizational needs. Project management is significant in making strategic choices to support the projects that need immediate attention as well as those that can be implemented in future (Kemp, 2006). Strategic project management integrates major organizational processes of strategic planning, tactical setting of
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