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M2Topic1 Strategic Project Management NEW

This document provides an overview of strategic project management. It discusses strategic management, which involves analyzing the environment, formulating strategies, implementing plans, and evaluating performance. Key elements of strategic management include environmental scanning to identify opportunities and threats, strategy formulation to set vision and plans, implementation of strategies, and evaluation and feedback. The document notes that companies must strategically select which internal projects to pursue based on available resources and profitability. When bidding for external clients, companies consider their expertise, resources, and chances of winning.

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Melisa May Ocampo Ampiloquio
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222 views

M2Topic1 Strategic Project Management NEW

This document provides an overview of strategic project management. It discusses strategic management, which involves analyzing the environment, formulating strategies, implementing plans, and evaluating performance. Key elements of strategic management include environmental scanning to identify opportunities and threats, strategy formulation to set vision and plans, implementation of strategies, and evaluation and feedback. The document notes that companies must strategically select which internal projects to pursue based on available resources and profitability. When bidding for external clients, companies consider their expertise, resources, and chances of winning.

Uploaded by

Melisa May Ocampo Ampiloquio
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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PROJECT MANAGEMENT

Module 2
Strategic Management and Project Management Selection
Topic 1
Strategic Project Management

by:
Dr. Madel Miraña-Poot
Strategic Management
• The analyses, decisions and actions an organization
undertakes in order to create and sustain competitive
advantage (Dess, et.al)
• The full set of commitments, decisions and actions required for a firm
to achieve strategic competitiveness and earn above average returns.
(Ireland, et.al)
• Clearer sense of strategic vision for the firm
• Sharper focus on what is strategically important
• Improved understanding of a rapidly changing environment
Four Basic Elements of Strategic Management
•Environmental Scanning
•Strategy Formulation
•Strategy Implementation
•Evaluation and Control
Environmental Scanning
• Is the monitoring, evaluating, and disseminating of information from the
external and internal environments to key people within the organization.

• Purpose is to identify strategic factors that will determine the future of the
organization.

• Simplest way to conduct environmental scanning is the SWOT


ANALYSIS
• Strengths
• Weaknesses
• Opportunities
• Threats
Study Formulation
• Is the development of long range plans for the effective
management of environmental opportunities and threats, in
the light of the corporate strengths and weaknesses.

• MISSION is the purpose or reason for the organization’s


existence.

• VISION describes what the organization would like to become.


Study Formulation
STRATEGIES
a comprehensive master plan that states how the corporation
will achieve its mission and objectives.

• It maximizes competitive advantage and minimizes


competitive disadvantage.
Strategy Implementation
• Is a process by which strategies and policies are put into
action through the development of programs, budgets, and
procedures.
• This might involve changes within the overall culture,
structure and or management system of the entire
organization.
• Is typically concluded by middle level and lower level
managers with review of top management.
• Sometimes referred to as operational planning
Evaluation Control
• Is a process in which corporate activities and performance
results are monitored so that actual performance can be
compared with desired performance.
• PERFORMANCE is the end result of activities. Actual outcomes
of strategic management process.

FEEDBACK/LEARNING PROCESS

A way to revise, correct decisions made earlier in the process .


Companies Who Do Projects for External Clients
• Must select which projects they will bid on
• Generally based on…
• Their own expertise and track record
• Resources they have available
• Their chance of winning the bid
• Preparing a bid is expensive
• They do not want to waste that effort on bids where they are
unlikely to be successful
Companies Considering Internal Projects
• Must decide which potential projects they will pursue
(sometimes among many competing projects)
• Available capital is the major constraint
• Profitability is often the major criteria
• Must evaluate approaches when there is more than one project
that can accomplish a particular business goal
Reference:
• Project Management: A Managerial Approach 8th edition
By Jack R. Meredith and Samuel J. Mantel, Jr.
Published by John Wiley & Sons, Inc.

THANK YOU
Stay safe and GOD bless!

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