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neff0980

neff0980   , 27

from Lincoln Park

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Strategic Project Management A Competitive Advantage

Recently, numerous the world's major project management organizations took important initiatives to show government management concerning the strategic importance and benefits of project management. The focus would be to move from specific project management to organisational project management, which these enterprises maintain 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 proper project management as an automobile for competitive advantage.

Ed: What do you thing strategic Project Management is?

Prof. Green: Strategic project management may be the management of those tasks that are of crucial importance to enable the organisation as a whole to get competitive advantage.

Ed: And what defines a competitive advantage, then?

Prof. Green: There are three attributes of having a core competence. The three characteristics are: it adds value to customers; it is perhaps not simply imitated; it opens up new opportunities later on.

Ed: But how do challenge administration produce a competitive advantage?

Prof. Green: You will find two factors to project management. One aspect is the actual selection of the type of projects that the organisation engages in, and secondly there is implementation, the way the projects themselves are maintained.

Ed: Competitive advantage - the value of choosing the correct projects - it's challenging to define which projects should be selected!

Prof. Green: I believe that the selection and prioritisation of tasks is something that has not been done well within-the project management literature because it's generally been thought away through reducing it to financial analysis. The strategic imperative gives an alternative way to you of prioritising projects as it is saying that some projects may not be as profitable as others, but if they add to our competency relative to others, then that's going to be important.

Therefore, to take an example, if a company's competitive advantage is introducing new services more quickly than the others, pharmaceuticals, let's say, getting product to market more quickly, then the projects that enable it to get the product more quickly to market are likely to function as the most significant types, even if in their own terms, they do not have higher success than other sorts of projects.

Ed: But if we are going to select our jobs, we have to determine what're the boundaries or metrics we're going to select them against giving us the competitive advantage.

Prof. Green: Positively. The business has to know which actions it's engaged in, which are the important ones for it competitive advantage and then, that drives the selection of projects. Dig up further on here by going to our stirring website. Enterprises are not great at doing that and they may not even know what these activities are. They'll believe that it is anything they do because of the energy system.

Ed: If an organization formulates its strategy, then what the project management group says is that project management is the channel for giving that strategy. Then, if the enterprise is great at doing project management, are there any strategic advantage?

Prof. Green: Well, I suppose that comes back to this problem of the difference between the sort of projects that are opted for and the way you manage the projects. We found out about webaddress by browsing Google Books. Demonstrably selecting the type of projects depends upon having the ability to link and prioritise projects ac-cording to an understanding of what the potential of an organisation is in accordance with others.

Ed: Let's suppose that the method is placed. So that you can deliver the strategy, it has to be broken-down, decomposed into a series of projects. Consequently, you have to be great at doing project management to deliver the strategy. Now, the literature says that for a company to be great at doing jobs it has to: place 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 integral way using the idea of a project company. Does getting those three methods produce a competitive advantage with this organisation?

Prof. Green: Where project management, or how you handle jobs, becomes a source of competitive advantage is when you may do things better than others. The 'a lot better than' is through the experience and reasoning and the knowledge that is built up as time passes of managing projects. There is an event curve effect here. As to the information they've built up where the rule book is limited to handle these components of projects two organisations will be at various points in the experience curve. You'll need knowledge and management sense because however good the rule book is, it'll never deal entirely with all the complexity of life. You've to manage down the ability curve, you have to manage the understanding and learning that you have of the three areas of project management for it to become strategic.

Ed: Well, then, I believe there is a niche there that has to be resolved as well, in that we've now produced a competency at doing project management to do projects, but we've not arranged that competency to the choice of projects which will help us to give this competitive edge. If you believe anything at all, you will probably claim to research about asea corp. Is project management effective at being copied?

Prof. Green: Not the softer aspects and not the devel-opment of tacit understanding of having run many, many jobs with time. So, like, you, Ed, have more understanding of how-to work projects than other people. That is why people found you, since while you both may have a standard book like the PMBoK or even the ICB, you have developed more experiential knowledge around it.

Basically, it may be imitated a specific amount of the way, but not whenever you align the smoother tacit knowledge of knowledge into it.

Ed: Organisational project management maturity versions are a hot topic right now and are directly linked to the 'knowledge curve' effect you mentioned earlier - how should we see them?

Prof. Green: I believe in moving beyond painting by quantities, moving beyond the idea that an enterprise is totally plastic and you can enforce this set of techniques and capabilities and text book standards and that is all you should do. You might say, exactly the same problem was experienced by the designers of the experience curve. It is nearly like, for every single doubling of size, cost reductions occur without you having to do any such thing, if you show the knowledge curve to organizations on cost. What we realize is though, that the experience curve is a potential of the risk. Mannatech Facebook is a commanding database for further about the meaning behind it. Its' realisation is dependent upon the ability of professionals.

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

Prof. Green: Until recently, project management has promoted it-self in technical terms. If it was offered in terms-of the integration at common management, at the power to manage across the features financing technique methods with reasoning, then it'd be more appealing to senior managers. So, it's about the mixing of the soft and the difficult, the strategies using the thinking and the knowledge which makes project management so strong. If senior managers do not accept it right now, it's not because they are wrong. It is because project management hasn't marketed it self as effectively as it should've done.

Ed: Do we have to sell to chief executives and senior executives that it'll provide competitive advantage to them?

Prof. Green: No, I think we need to show them how it does it. We must go in there and actually show them how they could use it, not only with regards to offering projects on time and within cost. We need to demonstrate to them how they can use it to overcome organisational resistance to change, how they can use it to enhance capabilities and actions that cause competitive edge, how they can use it to enhance the tacit knowledge in the enterprise. There is an entire array of ways in which they can put it to use. They have to observe that the proof-of the end result is preferable to the way in which they are currently doing it..