Strike a Balance between Strategic Direction and Projects Delivery Efforts
Beyond Gantt charts and schedules, progress reports, and some budgetary analysis a rich management area and a high-regarded discipline is there: it’s Project Management. Smart companies realized how projects can act as efficient vehicles to deliver both operational and strategic objectives. And as a result, they invested within building capabilities in this arena. It’s a fast-growing and evolving field with a plethora of academic, industry-specific, and professional bodies’ studies that delve into its particularities, latest insights, and best practices.
The Projects intends to achieve an objective within a definite timing and specifications : it’s a series of activities and tasks that utilize various tools and instruments to attain the same. Therefore, managing projects is a critical element to companies to allow them to deliver the sought-after objectives within the set criteria and performance parameters– Project Management is the keyword here.
The project Management field (and practitioners) are challenged by several shifts and trends within the business environment. Technology push is the predominant force that tends to reconfigure the project management landscape. Also, the departure from the conventional approach of delivering projects into a more of a hybrid one is gaining momentum across several industries. And thus building these adapting capabilities in addition to many others has become a key requirement that companies need to address for effective projects’ realization efforts.
Having worked with several companies within different sectors and on a variety of project sizes, we observed that many companies suffer from weak project management performance due to:
- The lack of strategic alignment of projects, this is beyond having portfolio or program management structures
- Adopting a cookie-cutter project management approach that doesn’t address the company’s specificities and characteristics
A Project-based approach is increasingly fostered by companies. And that is owed to the structured and controlled path that it provides to produce units’ outputs. Companies that aim to transform this area into one of its core competencies and differentiating elements need to rethink it—focusing efforts to make it adaptable to the new dynamics and customized to its needs.