Strategy of an organisation 8hours
Strategy of an organisation is a clear example of a set of formal, explicit and present drivers of projects, programmes and portfolios. The Strategy (Perspective 1) generally has clear goals and objectives and, more often than not, projects and programmes contribute to these goals and objectives, while project and programme portfolios are prioritised according to these goals and objectives.
The purpose of the Strategy competence element is to understand the strategy and its strategic processes, and thus enable a certain management perspective (project, programme or portfolio) to manage their programme within the contextual aspects.
- Align with organisational mission and vision
- Identify and exploit opportunities to influence organisational strategy
- Develop and ensure the ongoing validity of the business/ organisational justification
- Determine, assess and review critical success factors
- Determine, assess and review key performance indicators
- Gain more in-depth knowledge of the mission and the vision of the organization.
- Bring the goals and the benefits of your initiative in line with those.
- Ensure that this remains the case throughout the execution.
- Develop measurement tools to keep track of this.
- Ensure that initiatives deliver benefits.
- Study the way in which the organization develops strategy.
- Recognize the threats and opportunities for this strategy.
- Involve the team in stretching or reducing the strategic goals.
- Influence the decision forming process by submitting improvement suggestions.
- Understand the business and organizational justification.
- Ensure that this justification is recorded.
- Ensure that those responsible validate the justification.
- Translate the justification into a list of benefits.
- Set objectives that make achieving these benefits possible.
- Assess and validate these in their context.
For the management of programmes and portfolios you have to further add the following:
- Ensure that the benefits are achieved.
- Start new initiatives when these are needed.
- Stop initiatives when these are no longer needed.
- Determine the critical successful factors.
- Use both the formal and the informal factors.
- Involve team members to challenge the strategy.
- Use critical success factors to keep the initiative in line with the strategy.
- Use critical success factors to manage stakeholders.
- Use critical success factors to develop a motivational culture.
- Validate the critical success factors regularly.
- Deduce performance indicators.
- Use performance indicators at all levels.
- Use performance indicators to influence stakeholders.
- Use performance indicators for personal development.
- Use performance indicators for reward systems.
- Use performance indicators for achieving benefits.
Chinwi Mgbere is the President of Project Managers Development Association of Nigeria (PMDAN), Member Association of the International Project Management Association (IPMA), Certified Projects Director (IPMA Level A), National First Assessor of the IPMA 4 Level Certification System for the PMDAN Certification Body. He has taught various disciplines at Nazarbayev University School of Engineering
Chinwi Mgbere has more than 24 years of experience including extensive international experience in managing projects, portfolios of projects and programs.