In the past project management was considered tactical to assist in the running of individual projects such as constration of new flower, installation of new software/hardware but it did not enavble organizations to grow as time passes by achieving tactical goals such as entering into new markete, new product increasing markete/shareholder talk about etc.
Grundy and Brown mention that it’s fair for the organizations to incorporate task management and proper management into an activity that they call strategic project management.
-it is a process influence by internal & exterior change
-orginasation eyesight give surge ideas of strategic breatkthroughs
-this lead to the establishment of proper progrrame, then proper projects.
the Standish Teams Research Report, Quality of Jobs, 20 May 2005, www. standishgroup. com/sample_research/PDFpages/q3-spotlight. pd
ACCORDING to the report
Roughly 70% of jobs were failed
40% end users complained problems
50% projects were rolled again and discontinued
40% tasks were reworked therefore wastage of financial resources
The rout reason behind the failure of the projects was
1-business requirement was not understand properly in tactical point of view
2-There was no interconnection between strategy and assignments.
-Explain where they would like to be [future]
-identify problems and determine which task/program requires to improve them such as cost lowering, staff reduction, getting to market faster.
-Identify its inner/externial resources both people and financial
-Manage change management effort effectively by motivating employess to go into goal congrance along with organisation
-Perform project collection management to be able to recognize which job will add value in strategy
-Monitoring and handling investments in jobs in terms of strategy, ROI, and NPV
According to Callahan & Brooks (2004) PPM is “the utilization of the appropriate management knowledge, skills, tools and ways to maximize the alignment of the business’s project portfolio”
So PPM is a method for selecting those tasks that are well align and contribute to strategy
Select those tasks that support business strategy
Optimize assignments and resources to ensure maximum go back to company
-use accouting tecquotes in order to quantify benefits such as ROI, NPV
Perform risk management
Portfolio professionals must monitor designed and real performance in conditions of your energy, budged/scope and quality and then report to stock portfolio management.
in order to align with strategy portfoloio management keep itself inform/upgrade of any strategic change and those components which no more support of company strategy might be discontinued.
PPM is now popular in modern business and the markete for task profile management software keeps growing fastally and offering these tools
=Support whole project life cycle
Resourceallocation, wbs, charts
Detail project planning
The main reason of success is that portfolio managers incorporate strategy and it, s job rather than traditional tactically focused projects.
Business environments usually change and organizations take up the become their strategies which new development takes its project.
Strategic planning: some strategis are developed in incremental way and project management is way of earning random strategy more deliberate and because of this better considered.
Strategic implementation: pm play important role in this stage of strategy so that it must be able to handle intricate, ambiguous and politics issues and ensure it support overall strategy
A wider tactical awareness is essential in all participants of pm[ administrator] as what corporation actually needs.
Excellency in Project Management [ core competence ] (PMMM)
Kerzner shows that where PM is core competence, a continous improvement approach should be taken to expanding and consolidating the technique.
Organizations has always been seeking ways to accomplish excellency in PM and continusally followed different methologies and supportive culture.
Kerzner explains a five level job management maturity model (PMMM) of ongoing organizational improvement which provide advice to the organizations to be able to attain excellency in PM methology.
Level 1 – Common Knowledge
The need for PM to the business is comprehended and basic training and strategy is provided
Level 2 – Common Processes
Successfully carried out process are standardized and PM key points are recognosed and can be used for future projects and support other technique such as TQM
Level 3 – Singular Methodology
Organization combine all coporate methologies into a singular metholodgy and recognize synergic result and PM is positioned at the centre of single corporate and business methology.
Level 4 – Benchmarking
In order to attain competitive advantage predicated on process improvement organizations continuously undertake benchmarking
Level 5 – Ongoing Improvement
Information achieved through benchmarking can be use to make improvement of the singular methodology
This model is particularly used in corporate and business training and career development routes for job managers
Effect of Man Reference Management on Strategic Job Management
HRM are strategic asset and central competence of the organizations
The productive HRM management of and integration with organisational goal is crucial for tactical success, as, for example, observed Gary Hamel, managing the various technology and knowledge and learning became the foundation the core competence and competitive good thing about company for producing products.
The aim of resource management to ensure the right people and the abilities necessary to put into action certain tasks. Besides using different operating personnel requirements of the efficient department of company, every organization also use its practical HR pressure for decided on for assignments as well. . Because of the increasing costs of recruiting in today’s market, it is expected that development as multitasking will continue.
According to the observation of Turner and Muller (2005) impact of HRM such as competency of task manager and authority style was disregarded in the past have direct impact on organizational capability to implement its strategy.
SPM identifies the management and management skills are exceptional, with an focus on business, and very valuable. Therefore, it is their knowledge which causes tacit knowledge which is the important factors for ecological competitive benefit.
It is likely that project director will be appointed by and be responsible to a higher degree of management who take care of project.
Skill required by PM
-knowledge of company strategy
-leadership and teambuilding
-technical knoledge of project
-inter employees skills
There is no best management style scheduled to different personality design of managers. However leadership style adopted will affect the way decisions relating to the project are created.
Although an autocrative [ more consultative style ]may verify successful in a few situations because people of job feel more an integral part of the job.
Long experience in managing projects and dealing with the problems it faces, permitting them to look out of complexity and get to the center of the matter.
. A desire to get things done, to perform something and make a contribution.
vi. Have Excellent political and diplomatic skills
iii. The capability to look out of the sight of others and empathize with others, and that the contribution tolerate underperformance or bad team
ix. Win commitment of others, charisma courage, and empathy with people please.
Gap research is widely used in business strategy to target the distance between the expected future strategic performance and likely future performance. It might be in a similar way in project selection and description as a way to create what both tasks should be discovered and what their range should be.
the researcher focuses on gradually learning his research conclusion by applying critical interpretations methods.
The literature explains two different approaches that can be applied in this thesis – deductive and inductive. A deductive method of research is thought to clinical research, the researcher developed a hypothesis tested and examined to ascertain a suitable theory.
the researcher will little by little formulate the idea [ strategic job management ] by applying Exploratory Research and critical evaluation of research factors and implemented inductive research procedure, which offer more overall flexibility and opportunity for the researchers to analyze topics
Researcher followed appropriate research strategy such as inductive and distcriptive research and used secondary research methods. The researcher used up-to-date historical research way and get facts through case study data and electronically research report of companies relate to Software and Construction /Engeerning industry for example Standish Categories Third Quarter Research Statement 2005 states
Roughly 70% of projects were failed and the rout cause of the failure of these projects was
There was no interconnection between strategy and projects.
This section is split into five categories, which make clear the research process of each category in detail.
This research looked for data collection using the multi-method, or blend of quantitative and qualitative methods. Basically, the quantitative methodology is utilized facts and goes on where researchers desire to acquire the statistical fact.
Information about the Subject matter/industry is compiled mainly by extra options and script analysis.
Secondary sources that i used include Content material books, websites [ such as Gartner research & Standish Groupings ], analysie the work done by some researchers on Institute of Task Management in Dublin [importance of HRM in SPM ]. internet surveys, newspapers, publications/articles, research studies, mass media and personal encounters.
I did not use most important source because my chosen subject [ SPM] cover the countless huge compines who operate in several sectors which means this was difficult to get most important information of eatch company.
Ethics will be studied in to factor while gathering information in case any issues occur, they would be disclosed and fixed.
In general, pursuing studies have been obtained from research article.
Some individual tasks are believed tactical but organisational task management [ manage tasks in alignment with proper objectives ] are strategic advantage for the business.
SPM and PPM provide great edge to the company which help to identify those assignments which add value.
There are great advantages for an organization to examine its PM function and up grade and operate into SPM methods mixed up in selection of assignments.
The concept of Organizational Job Management predicated on the sense a relationship exists between your organizational skills in task management, program management and collection management and efficiency in applying the strategy.
Importance of the human factor in SPM as they help to achieve common strategic goal of corporation such as task completion on time, within cost and also to the product quality laid down in the original specification
I have chosen software and engineering/engeerning companies for starting my research report such as gartner research and Standish Groupings Research Record.
According to these reviews there shoud be considered a link between PM, PPM and Strategy for overall success.
I analysed the wordk done by some research workers on Institute of Project Management in Dublin who found, how organisations exchanges their job management capabilities into a tactical asset?
Research shows there are numerous Organizations that overlooked the important fact or alignment tasks with corporate and business strategy.
In fact, older management management should participate in defining the selection and prioritization of projects and all assignments should have measurable targets development of recommendations for organizations “to ensure position with the tactical vision of the business.
Callahan & Brooks (2004)
Standard for Portfolio Management