The Impact of Strategic Project Management on Performance of Taiwan’s Textile Industry

Abstract

With competition increasing technology companies have become more aggressive in their pursuit of customers and funding many are relying more on external relationships to achieve their strategic objectives. Executives must be creative, strategic, pragmatic, and aggressive in forming project managements. They must also remain cautious and pay attention to detail when framing and executing against the partnership objectives. Nearly two-thirds of all project managements experience severe problems and most problems are found within companies with less project management experience. If you overlook basic management principles during the initial courtship, the project management will suffer. Successful partnerships often create a formal project management process that incorporates some form of project management integration, management, negotiation, and assessment. Self-assessment and partner assessment is critical, and needs to be built into the overall process. These have lately presented themselves in a variety of failures that range from financial failure, epidemics, and other natural calamities; violent actions among staffs and from terrorist factions as well. The private sector is confronting change as varied organizations experienced transitions, as a result of strong competition and compelling technological advances that arise during periods of socio-economic and political progress. Firms do not manage these factors by themselves but will respond to changes if they are required to strategically devise schemes. To be resilient, firms will need to use intensively strategic planning in turbulent and changing situations in order to survive and thrive. It is the responsibility of managers and leaders in firms to consider all these types as possibilities for crises and have strategic and tactical plans, as a result crises could be rapidly resolved or prevented from happening. Strategic planning is critical to make sure that the textile sector is prepared to meet future difficulties. Modern strategy-oriented planning comprises a lengthy system for realizing a vision or managing future environmental conditions. The processes are neither fully prescriptive nor fully clear. Given this assumption, we typically characterize strategy-oriented planning processes in terms of structured activities that continually cover objectives and mission, survey the competitive environment, analyses strategic options, and coordinate implementing activities throughout an entire organization. Keywords: Strategic project management, Performance, Textile Sector, Taiwan