Project Management and Strategic Objectives of the Organization

Sarbjit Singh

doi:10.13189/ujibm.2017.050102

Abstract

Once the vision and mission of any organization is finalized the next step for them to formulate the road map to achieve that vision and mission. One of the ways is to derive strategic objectives which aid the organization to achieve its vision and mission. Generally these strategic objectives are for short term in comparison to the laid vision and mission. This study shows how projects help to achieve these strategic objectives. It also provides some examples where financial feasibility might not be the only criteria for selection of projects.

Highlights

Projects have become a part and parcel for most of the organizations today
Freeman M. and Beale [3] worked on measuring the project success, successfully completing project will imply the attainment of the strategic goals
Project benefit management research emphasizes the strategic roles of projects in organizations. e.g., Kolltveit et al, [10] and defines the benefit of management process e.g., Breese, [11]

Summary

Introduction

Projects have become a part and parcel for most of the organizations today. Two decades back projects were rare and only few organizations used to use project management techniques. Project management revolves around three aspects i.e. cost, time and scope This scope can be defined to achieve strategic objectives of the organization. Project benefit management research emphasizes the strategic roles of projects in organizations. One of the important requirements of the successful project is attachment of the project sponsor with the project, Kloppenborg, Timothy, Chris and Debbie [13] has mentioned in their paper on successful project sponsor behavior during project initiation. They [14] further investigated the role of project sponsor in project planning. This study emphasizes on the use of project management to achieve the organizations mission and vision

How Strategy Is Implemented through Projects

Conclusions