Project Management Strategic Planning Answer Essay

Pages: 5 (1383 words)  ·  Bibliography Sources: 3  ·  File: .docx  ·  Level: Master's  ·  Topic: Management  ·  Written: March 24, 2019

SAMPLE EXCERPT . . .
Another activity carried out in this phase is measuring performance and taking correctional actions. The evaluation component of the strategic management process makes sure that the strategy laid out by the organization. It also makes sure that the implementation process meets the objectives of the organization.

4. Answer Four

Projects are the heart of the strategic management process. The strategy is implemented primarily through projects. Successful implementation of the projects equates meeting the goals of the strategic process and those of the business. Unsuccessful projects lead to unsuccessful strategic process. The strategic process involves coming with strategies that will help the business meet its objectives. These strategies involve coming up with specific projects that are to aid in accomplishing the goals of the company (Wheelen, Hunger, Hoffman, & Bamford, 2017). Therefore, projects play the role of accomplishing the specific objectives of the strategic management process.

5. Answer Five

An organization should not rely on ROI while selecting projects since the project may bring more returns than that just the finances. There are other considerations that should be considered such as brand loyalty, new inventions, public image, and core competency. Furthermore, it remains difficult to access the ROI for many projects that are important to the success of the organization. Though ROI should be a key consideration during the selection of many projects, multiple screening criteria are recommended.

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FIVE CRITICAL ROLES IN PROJECT MANAGEMENT

The article illustrates that when managing a project, you need to have the right people with a clear understanding of their roles.

Sponsor is one of the important persons who are mainly responsible for championing the project by getting rid of anything that could hinder project implementation. He should communicate effectively to stakeholders, provide all resources needed, and monitor project performance.

Answer Essay on Project Management Strategic Planning Assignment

The project manager is supposed to key problem that the project is supposed to solve and the methods of solving. He should plan the project activities, resources needed, funds required, set milestones and coordinate activities. He should be in contact with the sponsor and other team members to ensure the goals and the vision of the project are met.

The team leader is also critical and supposed to lead the team members in implementing the project. He initiates the project, negotiates for resources needed, represents the team members to the higher authorities and is also a leader who does work as well as directing others on how to do it. In other words, he/she should be a role model.

Team members should be the heart of any project. These are people who will actually do the project. They should be selected based on various quality like technical skills in the required discipline, interpersonal skills, problem-solving skills, and organizational skills. Any person selected as a member should exhibit not only the technical skills but also the soft skills as earlier mentioned. Members should most importantly be able to work collaboratively in a team.

While laziness is not tolerated, different members can work based on their abilities and different time slots. All members should make contributions without reservations while those who work overtime should be appreciated. All the team members’ goals should align with the organizational objectives and therefore everyone’s efforts should be appreciated based on the reward system of the organization.

Finally, the project steering committee is responsible for approving chatter, securing resources and rulings out on requests to change key elements of the project. It comprises of the sponsor and the key stakeholders of the project. The committee could involve different various people with different interests in the project.

It’s interesting to note that project management is not a single person affair. A project involves all levels of people from the highest in rank which is CEO to the project team members.

References
  1. Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach. Routledge.
  2. Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems… [END OF PREVIEW] . . . READ MORE

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