Strategy is basically deciding how the organization will compete. Organizations
use projects to convert strategy into new products, services, and processes
needed for success. For example, Intels major strategy is maven of differentiation.
Its projects target innovation and time to market. Currently, Intel is directing its
strategy toward enduringness chips for products other than computers, such as autos,
security, cell phones, air controls. other goal is to reduce project cycle
times. Intel, NEC, General Electric, and AT&T flummox reduced their cycle times by
2050 percent. Projects and project management play the key role in supporting
strategic goals. It is vital for project managers to think and act strategically.
line up projects with the strategic goals of the organization is crucial for
project success. Todays economic climate is unprecedented by rapid changes in
technology, orbiculate competition, and financial uncertainty. These conditions
make strategy/project alignment dismantle more essential for success. Every major
project needs to have a strong linkage to the strategic plan. Ensuring a strong
link between the strategic plan and projects is a difficult line that demands constant
attention from top and middle management.
The larger and more versatile an organization, the more difficult it is to create
and maintain this strong link. Ample try still suggests that many organizations
have not developed a process that clearly aligns project selection to the strategic
plan. The result is distressing utilization of the organizations resourcesâ€"people,
money, equipment, and core competencies. Conversely, organizations that have a
dogged link of projects to strategy have more cooperation across the organization,
make out better on projects, and have fewer projects.
How can an organization ensure this link and alignment? The answer requires
integration of projects with the strategic plan. Integration...If you want to get a full essay, order it on our website: Ordercustompaper.com
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