This lesson describes how to:
• Use strategies to define organizational goals and initiatives
• Align projects and proposals to the strategies
• Use measures to assess performance
• Monitor strategies using the associated measures
• Use the Summary Scorecard page
• Use the Tree View to display the hierarchy of strategies
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1. Strategy List.
Use strategies to define organizational goals and initiatives, then assess how projects and proposals align with those goals. In this video, we'll define a strategy, align it to projects, and then use measures to assess performance.
Strategies are typically at the organizational, business unit, or department level. You can also create a hierarchy of strategies to break a top-level strategy down to functional or operational level. For example, a business driver can be broken down into a strategic theme and then further into goals and initiatives.
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2. Align projects and proposals.
Align projects and proposals to the strategies and then assess how they meet the strategy's objectives. If a project is not completely aligned with the strategy, assign a percentage. Once the project is aligned with the strategy, a strategic alignment score is calculated for the project. The score is based on the percent aligned, weight, and weight percentage of the strategy. This can be useful in the project selection for budget and resource planning. After projects are aligned, use measures to monitor strategy's performance.
3. Measures.
Use manual measures for strategies if the performance data is not derived from the aligned projects. Measures allow you to quantitatively assess the performance by comparing actual values against targets. Create thresholds to provide visual indicators of how projects are performing. For example, when monitoring the strategy for increased sales, create a measure that tracks revenue on a weekly basis and indicates when revenue does not meet or exceeds the target value.
4. Monitor Strategies.
Use the Summary Scorecard page to monitor strategies using the associated measures. View measures' past, current and future trends. Make adjustments as needed when the strategies change.
5. Strategies Hierarchy.
Use the Tree View to display the hierarchy of strategies for a specific node.
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