This paper will evaluate the various reasons why organizations are using Project Management to achieve their strategic objectives. It will focus on the view of projects as investments rather than being likened to investments. The paper will evaluate the application of the various doctrines of strategic project management that project managers use to accomplish the strategic objectives.
Project management generally takes the form of a decision tree (Fig. 1). Goodwin and Wright, (2009) observe that after developing the strategic objectives, the managers evaluate the current situation or status of the organization. This is a starting point that is necessary to determine the next course of action. Project management is therefore preferred because it answers the question of whether the organization has attained its maximum capacity (Chapman and Ward, 2003). If not, the managers engage in assessing the constraints to establish if their cause is known or not. From this point, if the causes of the constraints are known, ways of alleviating them can be determined. If they are not known, investigations are undertaken. Such procedures help organizations to apply a straightforward approach to solving problems (Kendrick, 2009).
Many contemporary organizations undertake different projects depending on their significance to organizational productivity (Dale et al. 2007). In many situations, different departments in the organization come up with projects that compete for the available finances. They have different impacts on the overall organizational performance and priorities need to be set depending on the organizational needs. Project management is significant in making strategic choices to support the projects that need immediate attention as well as those that can be implemented in future (Kemp, 2006). Strategic project management integrates major organizational processes of strategic planning, tactical setting of ...
Cite this document
(“Project maangement Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/404219-project-maangement
(Project Maangement Essay Example | Topics and Well Written Essays - 1500 Words)
“Project Maangement Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/miscellaneous/404219-project-maangement.
In the current world, having motors capable of producing high power output is a necessity. This is because such motors are driven in extreme conditions requiring high speed, and abrupt changes in direction as well as being subjected to heavy loads. It is not easy to find motors for use in such conditions under a tight budget.
From third year, the generator will become operative and start providing the cash inflows. Cost of capital is assumed as 8% for this project. Discussion held subsequently emphasizes upon the present values of the cost of the project as well as the after-tax cash flows pertaining to the project.
Consequently the complexities associated with such business are increasing at a rapid rate. Businesses are facing new challenges almost every single day in their respective field of work while conducting different projects which is affecting their performances significantly.
ave been an increasing number of fraudsters who thrive on the weaknesses in the software and make use of the data base of other people for illegitimate purposes. Thus any organization or individual who is a user of the internet for commercial or other purposes has been made the
Robert Kaplan of Harvard Business School and Dr. David Norton. The main point of difference between Balanced Scorecard and general management systems/tools is that these general management tools focus primarily on the financial performance of the firm and that too
In this scenario corporate needs a more collaborative network technology, which could offer the facilities of efficient data sharing and information transmission. For this reason the most appropriate proposed technology is
In addition, the use of a survey enabled analyzing customer’s perception and level of satisfaction in various services.
The Survey was availed to the customers through the social media pages of the two companies. The customers were
2 Pages(500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Project maangement for FREE!