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charl83pale23   , 33

from Mill River


Strategic Project Management A Competitive Edge

Recently, a number of the world's major project management organisations have taken important initiatives to enlighten executive management regarding the strategic importance and benefits of project management. The focus is to move from individual project management to organisational project management, which these organisations keep is a strategic advantage in a competitive economy.

In this article, Ed Naughton, Director General of the Institute of Project Management and present 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 proper Project Management is?

Prof. Green: Strategic project management may be the management of the tasks that are of critical importance to help the enterprise in general to own competitive advantage.

Ed: And what becomes a competitive advantage, then?

Prof. Green: There are three features of getting a core competence. The three attributes are: it gives value to customers; it's maybe not easily imitated; it opens up new possibilities later on.

Ed: But just how can task administration generate a competitive advantage?

Prof. Green: You can find two aspects to project management. One element is the actual collection of the sort of projects that the enterprise engages in, and secondly there's implementation, how a projects themselves are maintained.

Ed: Competitive advantage - the importance of choosing the correct projects - it's challenging to establish which projects should be chosen!

Prof. Green: I think that the choice and prioritisation of projects is something that's not been done well within the project management literature because it is generally been assumed away through reducing it to economic analysis. Dig up more on this affiliated website by clicking mannatech products list. The strategic imperative gives an alternative way to you of prioritising projects because it is saying that some projects might not be as successful as others, but when they add to our proficiency relative to others, then that's going to be important.

Therefore, to just take an illustration, if a company's competitive advantage is introducing services more quickly than others, pharmaceuticals, let's say, finding product to market more quickly, then your projects that enable it to get the product more quickly to market are likely to function as the most critical types, even if within their own terms, they do not have higher productivity than various projects.

Ed: But when we're going to select our jobs, we've to determine what are the guidelines or metrics we're going to select them against that give the competitive advantage to us.

Prof. Green: Definitely. The organisation needs to know which activities it is involved in, which are the critical ones for it then and competitive advantage, that drives the selection of projects. Enterprises aren't very good at doing that and they might not even know what those actions are. They will believe it is anything they do due to the energy system.

Ed: If a company formulates its strategy, then what the project management group says is that project management is the channel for delivering that strategy. Therefore, if the company is good at doing project management, is there any strategic advantage?

Prof. Green: Well, I guess that returns to this problem of the difference between the kind of projects that are selected and the way you manage the projects. Demonstrably choosing the kind of projects depends upon having the ability to link and prioritise projects according to a knowledge of what the capability of an organisation is relative to others.

Ed: Let us suppose the technique is placed. So that you can provide the strategy, it's to be broken-down, decomposed into a number of projects. For that reason, you need to be proficient at doing project management to deliver the strategy. Now, the literature says that for a business to be great at doing jobs it's to: place in project management procedures, train people on how best to apply/do project management and co-ordinate the efforts of the people trained to work to procedures in and integral way using the concept of a project office. Does taking these three ways deliver a competitive advantage for this organisation?

Prof. Green: Where project management, or how you manage tasks, becomes a source of competitive advantage is when you may do things a lot better than the others. The 'a lot better than' is through the experience and judgement and the information which will be developed over time of managing projects. There is an experience curve effect here. Regarding information they've accumulated where the rule book is insufficient to manage those items of jobs two enterprises will be at various points in the experience curve. You'll need management judgement and knowledge since however good the rule book is, it'll never deal entirely with the complexity of life. You've to manage down the ability curve, you have to manage the knowledge and learning that you have of these three aspects of project management for it to become strategic.

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

Prof. Green: Not the softer elements and not the develop-ment of tacit knowledge of having run many, many projects over-time. So, for example, you, Ed, do have more familiarity with just how to work tasks than other people. That is why people came to you, since while you both may have a regular book like the PMBoK or even the ICB, you've created more experiential knowledge around it.

In essence, it could be copied a specific amount of just how, although not if you align the smoother tacit knowledge of knowledge into it.

Ed: Organisational project management maturity types are a hot topic right now and are directly linked to the 'experience curve' effect you mentioned ear-lier - how should we view them?

Prof. Green: I really believe in moving beyond painting by numbers, moving beyond the idea that an operation is totally plastic and you can demand this set of text book protocols and capabilities and processes and that's all you need to do. In a way, exactly the same difficulty was experienced by the developers of the ability curve. If you show organizations the experience curve on cost, it is almost as though, for every doubling of volume, cost reductions occur without you having to do anything. What we all know is though, that the experience curve is a potential of the chance. Its' realisation is dependent upon the ability of administrators.

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

Prof. Green: Until lately, project management has promoted it-self in technical terms. Then it'd become more attractive to senior executives, if it was offered in terms of the integration at normal management, at the capability to manage throughout the characteristics lending approach methods with sense. So, it's about the ability that produces project management so powerful, the techniques using the reasoning and the mixing of the gentle and the hard. If senior managers don't accept it at this time, it is not since they are wrong. It is because project management hasn't sold it self as effectively as it should've done. Dig up further on our affiliated encyclopedia - Click here: ambrotose.

Ed: Do we have to sell to senior executives and chief executives that it will deliver competitive advantage to them?

Prof. Green: No, I think we have to show them how it does it. In the event people hate to identify more on read more, there are lots of resources you might investigate. We need to go in there and really show them how they can put it to use, not just in terms of offering assignments on time and within cost. We have to show them how they can use it to over come resistance to change, how they can use it to enhance capabilities and activities that lead to competitive edge, how they can use it to enhance the tacit knowledge in the business. There is an entire range of ways in which they are able to use it. They should observe that the proof of the outcome is preferable to the way in which they're currently doing it..