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charl83pale23   , 33

from Mill River


Management A Competitive Advantage

Recently, numerous the world's leading project management organizations took major initiatives to illuminate executive management about the strategic importance and advantages of project management. The emphasis is to move from individual project management to organisational project management, which these organizations maintain is a strategic advantage in a competitive economy.

In this article, Ed Naughton, Director General of the Institute of Project Management and recent IPMA Vice-president, asks Professor Sebastian Green, Dean of the Faculty of Commerce and Professor of Management and Marketing at University College Cork (formerly of the London Business School), about his views of strategic project management as a vehicle for competitive advantage.

Ed: What does one point strategic Project Management is?

Prof. Green: Strategic project management is the management of the jobs which are of critical importance to enable the company in general to get competitive advantage.

Ed: And what defines a competitive advantage, then?

Prof. Green: You will find three characteristics of getting a core competence. The three features are: it adds value to customers; it's maybe not easily imitated; it opens up new opportunities in the future.

Ed: But how can challenge administration yield a competitive advantage?

Prof. Asea Utah Online contains further about where to see this concept. Green: There are two aspects to project management. One part is the actual choice of the kind of projects that the company partcipates in, and subsequently there's implementation, how a projects themselves are maintained.

Ed: Competitive advantage - the value of choosing the projects - it's challenging to determine which projects must be selected!

Prof. Green: I believe that the selection and prioritisation of projects is something that's not been done well within the project management literature because it's basically been thought away through reducing it to economic analysis. Be taught extra resources about internet asea website by visiting our astonishing article directory. The strategic imperative gives an alternative way to you of prioritising projects since it is saying that some projects might not be as profitable as others, but when they add to our skill relative to others, then that is going to be important.

So, to simply take an illustration, if a company's competitive advantage is introducing services more quickly than the others, drugs, let's say, finding product to market more quickly, then a projects that allow it to acquire the product more quickly to market are likely to function as the most significant types, even if within their own terms, they don't have higher success than other sorts of projects.

Ed: But when we're going to select our projects, we have to define what are the variables or metrics we are going to select them against that give us the competitive advantage.

Prof. Green: Absolutely. The business has to know which activities it is engaged in, which are the critical ones for it competitive advantage and then, that drives the selection of projects. Companies aren't very good at doing that and they might not even understand what those activities are. They will think it is everything they do due to the energy system.

Ed: If its strategy is formulated by a company, then what the project management community says is that project management will be the channel for delivering that strategy. So therefore, when the business is great at doing project management, is there any strategic advantage?

Prof. Green: Well, perhaps that comes back to this issue of the difference between the type of projects that are opted for and the way you manage the projects. Obviously choosing the sort of projects depends on being able to link and prioritise projects according to a knowledge of what the capability of a company is in accordance with others.

Ed: Let's assume the technique is about. To be able to provide the strategy, it has to be divided, decomposed into a series of tasks. Consequently, you must be good at doing project management to deliver the strategy. Now, the literature says that for an organisation to be proficient at doing tasks it's to: put in project management procedures, train people on how to apply/do project management and co-ordinate the efforts of the people trained to work to procedures in and built-in way using the concept of a project company. Does using these three ways deliver a competitive advantage for this enterprise?

Prof. Green: Where project management, or how you handle tasks, becomes a source of competitive advantage is when you can do things a lot better than the others. The 'better than' is through the ability and judgement and the information which can be built up with time of managing projects. There is an event curve effect here. Two firms will be at various points in the experience curve as to the knowledge they have built-up where the rule book is inadequate to manage those items of jobs. You-need experience and management thinking because however good the rule book is, it will never deal entirely with all the complexity of life. You have to manage down the experience curve, you have to manage the knowledge and learning that you've of those three facets of project management for it to become ideal.

Ed: Well, then, I do believe there's a niche there that's to be resolved as well, in that we have now produced a competency at doing project management to do projects, but we have not aligned that competency to the selection of projects which may help us to give this competitive advantage. Is project management effective at being imitated?

Prof. Green: Not the softer features and not the develop-ment of tacit knowledge of having run many, many projects over-time. So, for instance, you, Ed, have significantly more knowledge of how to run jobs than others. That's why people came to you, because while you both might have a typical book such as the PMBoK or the ICB, you've created more experiential knowledge around it.

Basically, it may be imitated a certain amount of just how, however not once you arrange the softer tacit knowledge of knowledge into it.

Ed: Organisational project management maturity models are a hot topic right now and are closely for this 'knowledge curve' effect you mentioned ear-lier - how should we view them?

Prof. Green: in my opinion in moving beyond painting by quantities, moving beyond the simplistic idea that that is all you should do and you may impose this pair of processes and capabilities and text book standards and an organisation is wholly plastic. In a way, just the same problem was experienced by the builders of the ability curve. If you show the ability curve to companies o-n cost, it is very nearly as though, for every doubling of volume, cost savings occur without you having to do anything. What we know is nevertheless, that the experience curve is a potential of the risk. Navigating To ambrotose possibly provides aids you might give to your aunt. Their' realisation depends upon the ability of managers.

Ed: Are senior executives/chief executives within the mindset to appreciate the possible advantages of project management?

Prof. Green: Until lately, project management has offered itself in technical terms. Then it'd be much more attractive to senior executives, if it was offered in terms of the integration at general management, at the power to manage across the features financing method techniques with reasoning. So, it's about the mixing of the difficult and the gentle, the methods together with the judgement and the ability that produces project management so effective. If senior managers do not embrace it at this time, it is not because they're wrong. Dig up more on our affiliated URL by clicking ASEA/asea-what-is-it-and-why-are-people-so-excited-about-it-7b9999d1551e">buy here. It is because project management hasn't sold it-self as effortlessly as it should've done.

Ed: Do we need to sell to chief executives and senior executives that it'll offer competitive advantage for them?

Prof. Green: No, I think we need to demonstrate to them how it does it. We need to go in there and really show them how they can put it to use, not merely in terms of offering jobs on time and within cost. We have to demonstrate to them how they can use it to overcome organisational resistance to change, how they can use it to enhance capabilities and activities that lead to competitive advantage, how they can use it to enhance the tacit knowledge in the organisation. There is a whole array of ways in which they can put it to use. They have to see that the proof of the results is better than the way in which they are currently doing it..