State of the Art of Project Management - Essay Example

The paper "State of the Art of Project Management" is a good example of a literature review on management. The general application of strategies, processes, and methodologies in project management is not of help unless there is strategic consideration of every element applied in procuring valuable projects. The strategic considerations are vital and entail the in-depth assessment of the strategies adopted in making projects a reality. A strategy defines the ideal way of carrying out a project. It constitutes four main components. A strategy is inclusive of all processes that occur in a single project. There is a need to apply the Chamberlain case of strategy formulation in project management. The legend’s case incorporates the definition of a specified strategy, the various forces that create the strategy, the processes involved in the creation of the strategy, and the mechanism involved in the implementation of the strategy. The theory is indispensable in the strategic formulation of projects. Additionally, Mintzbergy established five essentials pertaining to strategic formulation. A project manager must identify the plan, ploy, pattern, position, and perspective of strategy prior to its adoption.

Problem definition

The creation and implementation of projects have been generalized for a long time leading to failure in the achievement of the very objectives of the projects. Additionally, some projects have failed in the past because of strategic consideration of the entire project creation, planning, control, monitoring, implementation, and review process. There is a need for the application of strategy in every process and element of project management. Such an initiative will boost the achievement of the project goals. Additionally, the variances, which are witnessed in projects, will be eliminated. The analysis and critical evaluation of strategies applied in project management will close the gap between project management and strategy formulation of projects.

Introduction

Project management is solely based on strategic management. However, the strategic formulation is usually ignored because of various factors including limitation of resources and project managers’ ignorance.