You can also go through our other suggested articles to learn more —. Submit Next Question. By signing up, you agree to our Terms of Use and Privacy Policy. Forgot Password? This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy.
By closing this banner, scrolling this page, clicking a link or continuing to browse otherwise, you agree to our Privacy Policy. Role of Project Manager. Popular Course in this category. Course Price View Course. Free Project Management Course. Login details for this Free course will be emailed to you. Email ID. Having knowledge of the corporate strategy is very important and needs to be a part of the project manager's toolbox. Then, you must know where your project fits into that strategy, and equally important, you must know if your project does not fit that strategy.
Strategic project alignment has become a very important topic. The Economist Intelligence Unlimited surveyed senior executives globally concerning how C-level executives engage in the implementation of strategy and the barriers that impede the integration of strategic initiatives into operations.
These executives realize there is a direct correlation between the success of the strategic initiatives and the financial performance of their organization see Exhibit 1.
This is where project management can play a central role in increasing the success rate of these projects that bring strategic benefits to the organization. This can be daunting for the project manager; after all, you are responsible for a successful project. However, we must begin to think beyond just the tactical success of our projects. We must begin to use our talents to ensure that our project success helps in moving the organization forward by being strategically aligned.
More so, if we reach a situation where we are sure that the active project is not aligned with strategy, then we have a responsibility to bring that to the executive team in a respectful manner for their consideration and decision. What do we mean when we talk about project success? The definition has evolved as the profession has evolved, and that evolution will continue into the future.
Success of a project is defined in multiple publications. One such definition includes the following characteristics of a successful project Duggal, :.
We all have heard of the triple constraint: time, cost, and scope. Jack Duggal expanded on the triangle of constraints to construct the diamond of opportunity when defining success see Exhibit 2. The diamond analogy shows the expansion on the triangle triple constraint to pictorially show that, not only do project managers need to focus on tactical success of the project, but they also need to combine the tactical with the broader strategic outcomes of the project.
This diamond of opportunity provides context to the project manager and keeps the cornerstones of quality and governance at the center of the triangles. What project managers deliver to the stakeholders must always be of the highest quality.
The benefits and satisfaction derived from our efforts are obtained by solid governance over all processes throughout the lifecycle of the project. To know success, we must also know failure.
How can we learn if we don't dissect the circumstance of failure, find the true points of failure, and realize what could have been done differently? These failures must always be studied and discussed; we learn from these project events. Different reasons for failure can include:. Now, we will discuss a real-life project that was the result of the acquisition of a similar size and similar product-line organization.
We will discuss the success of the project, the ultimate failure of the organization, and what could have been performed differently. Project managers play an integral role in the integration of two companies.
Company B had a history of growth by acquisition without proper controls in place, so it brought a legacy of complex architecture and processes.
All projects had to be approved by the Project Oversight Committee POC , and then updates were given weekly at the PMO status meetings, which included executive management. The timeline was set from November to December The first solution designed was not valid, based on legacy systems.
We then started a second design session that was then prototyped and found to work successfully. Requirements were completed and development took place. Then, QA, and the first implementation launched in early April The implementation was successful, based on all criteria established:.
This was considered a very successful project launch. Customer orders were flowing with few issues. SLAs were met for all order deliveries, and the orders were no longer being processed in the facility that was to be closed. But, what did it take to support this solution? Customer service needed a dedicated team of resources; another team was needed at the plant; and various SMEs were needed regularly to solve issues.
These teams had to be scaled in order to support the implementation of six other locations in , while four others were pushed out to The solution implemented also complicated the already complex technical architecture that was in place. Meanwhile, there were both complex and disturbing dynamics occurring in the organization. The organization declared bankruptcy in the first quarter of As a result of the bankruptcy, all projects were then placed on hold and the focus turned to vendor and financial management.
There was a loss of key resources to the organization as they left and moved on to other opportunities. The company was auctioned off and ceased to exist. But, the circumstances surrounding it and the execution of other projects all combined, contributed to the ultimate outcome.
The Operational Footprint POD project added manual costs and complex architecture into an organization that was already straining its resources. The implementation of each additional site added more cost and more complexity. There was not a plan for the next stage of true integration, so these costs were becoming permanent. Additionally, the company was in a declining industry, and both companies had a history of recent declining sales. The sales organizations were fractured and lacked an overall strategy that might have allowed the company to gain back sales that had been leaking for years.
Customer service costs were very high in each organization because the antiquated systems did not allow for full customer or order lifecycle viewing. This made issue resolution lengthy and costly to the organization customers. Click here to view sources. Retrieved from WhatIs. Accessed 09 May Retrieved from APM.
Jan, Retrieved from Project Smart. Retrieved from Supplychain Mechanic. Mar, Retrieved from Project Management. Oct, Retrieved from Project Manager. May, Retrieved from Forbes. Feb, Social share:. Related Reading. Sign up to our newsletter. You have been subscribed. Visit our blog to see the latest articles.
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