7PJMN003W - Programme & Strategic Management: Strategic Alignment

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This report explores the importance of strategic project management and its alignment with organizational strategy, highlighting the benefits of aligning projects with business goals, improving success rates, and enhancing financial performance. It discusses the role of Enterprise Project Management Offices (EPMO) in achieving alignment and emphasizes the significance of aligning projects with business strategies to achieve organizational objectives. Furthermore, the report examines how programs and projects facilitate organizational change, referencing Kotter's eight-step model for effective change implementation. It also emphasizes the importance of benefits management in program management, ensuring that desired benefits are realistic, measurable, and time-bound, ultimately leading to better decision-making in project and program resource allocation. The report concludes by reinforcing the need for effective leadership and employee commitment to drive organizational change and achieve desired benefits.
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Programme and
Strategic Management
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Table of Contents
INTRODUCTION ..........................................................................................................................3
Question 1- strategic project management.......................................................................................3
Importance to align projects with organisational strategy and process used to achieve
alignment......................................................................................................................................3
Question 2........................................................................................................................................5
Programmes and projects are beneficial for organization change...............................................5
Question 3: benefits management with programme management...................................................6
Benefits management is important to programme management..................................................6
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Project management is provides effectiveness in project achievement which means the
application of strategic management skills, proficiency, tools, techniques, theories, models are
beneficial for completion of particular aim (Chadee and et.al., 2021). That is the reason almost
every organization have project management team for specific project. Many theories are
provided clarity for preparation of impressive project management. This report will show that
importance of strategic management, impressive changes in organization management and
benefits of programme management with the utilization or knowledge of models and theories.
Main body
Question 1- strategic project management
Importance to align projects with organisational strategy and process used to achieve alignment.
Aligning project management and organisational strategy gives many benefits to the
company or organisation. Project alignment is helpful in improving the success rates of the
project and it also increases the ability or capability of the company in order to address the needs
or preferences or expectation of the customers. Example, there are many research has conducted
which has shown that company's financial performance has increased and project can also got
successful when projects are got aligned with organisational strategies (Chen and Lee, 2017).
When the project in which company is investing is contributing in company's welfare then the
entire organisation improves and also improvises retention rates and customer experience.
Aligning projects with business strategy is important because it provides quantifiable advantages
to the company. If organisation will not aligned project with the strategies can provide some of
the financial benefits but it does not help company to get real growth value in business. So
company should ignore projects which are delivering low value and those resources should use
which will give high value than project will going to deliver high value. It also helps in
eliminating the waste. As in every company there are projects which should not be there in the
company as they are consider as the waste. There are many dummy projects which are of no use
or some projects also exists because they were important in the past. When projects gets aligned
with organisational strategy then these projects which are of no use go away. So through this way
scrutinizing is done and projects which are of no issue gets eliminated.
Project success rates increases upto 50%. project when gets aligned with the business strategy
gives huge benefits to the business. As they get timely finishes and within budget as well. It
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helps in making strong executive sponsorship. If an individual is talking about project delivery
than the lack of executive sponsorship becomes complaint (PMI’s Pulse of the Profession. 2016).
Company often do not engage in this when projects are not important for them as it is not aligned
with business strategies. Example: Mercedes always align there projects with the strategic goals
so that it can look more engaged. When projects gets aligned with the strategy then it gets easy to
choose that which project is giving more value and which is giving less value. This is helpful in
solving project management officer's major problem regarding resource allocation. When clarity
is got about the most valuable projects then to make resources decisions are very easy. When a
employee went to aligning the projects with organisational strategy than it is very important to
have the clarity about what an individual wanted to get achieved and when an employee have
such clarity than it achieves the objectives. If organisation have knowledge that what they
wanted to achieve and that can added in the planning so that to know that what is to do be done
in order to deliver results. If the success of the project has to be measured than it is very
important to aligning the project with the business strategy.
As organisational strategies are formed to achieve objectives and when alignment is done or
projects with organisational strategy then goals of business will very easily gets achieved.
Example: leaders of Mercedes said that what customer wants is easily gets recognised when
strategies and projects are aligned. This is one of the important thing to know the customer
demand because it will help company in beating the competition and also increasing the market
share. It also enhances financial position of the company in the market. If reputation of the
company is good in the market than company can able to attract talented workforce towards their
organisation (Annosi, Marchegiani and Vicentini, 2020). Project success rate has increased by
alignment because projects are compared with business strategies and business strategies are
formed to achieve success.
Procedure to achieve the alignment:
It is said that for the organisations alignment gives results of changing traditional project
management offices (PMO) to enterprise project management offices (EPMO). It can be said that
EMPO have major role. It is the centralised and this organisation entity is made so that new
project planning can be done by remembering organisational strategy or keeping strategy of
business in the mind. EMPO have important role in both s they take participation in executive
planning and also in overall strategic planning sessions so that to understand that how the project
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is helpful in achieving organisational needs and also to make company vision. It is not easy for
project managers and leaders to know that value of EPMO integration and also to view the
organisation with better aligned projects within overall objectives (Kotter, J. (2016)). For each
and every project, EMPO is made which serves the liason within project managers and its
subordinates and it also includes senior executives. In order to achieve project alignment it is
important that EPMO managers and the leaders should have together work within project
implementation process (Gilchrist, Burton-Jones and Green, 2018). After the project has got
completed, EPMO gets extra responsibility to check the project success in regards with business
objectives and aims. It is the duty of managers to make reports and he or she has to present this
to the senior manager and have to show that how the project exactly gets fit with the
organisational strategy. This case is not with traditional project management. In EMPO success
of individual project is not only counted but what counted is how the project success is helping in
achieving the overall business goals.
Question 2
Programmes and projects are beneficial for organization change
Organization has to consider the requirement of changes in their management for the
process of projects and programmes. It is an essential requirement for development of new
approaches. Consideration and implementation of new things in organization that project
management can apply and use some changes for monitoring the project. Basically programmes
is conveyed process for changes which are important for the business new project infrastructure.
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Programs is aligns of overall aspects which are prepares for management change. Kotter's eight
model is beneficial for the implementation of effective changes in project (Ali and Anwar,
2021).
The first step is create urgency which means what are the changes whole organization
wants and what business project manager, owner can do for the changes with knowledge of
external and internal factor. Second stage of this model is to form a powerful alliance with the
hiring and selection process, it is not requires that organization can only use traditional concept
for choosing the best leader. After selection process according to model create a vision for
changes which means when organization think about any changes they have idea about what is
the vision for this change. So maintain the clarity in thought process it is essential that company
should consider the clear vision (Alabugin and Oreshkina, 2021).
Communicate the vision with the team member, leader prepare structure for changes, and
they describe that how to develop change. Almost every one faces some issue when business
project team develop changes in management (PMI Thought Leadership Series Report. 2015).
Remove barriers is fifth stage that gives you clarification about how organization can use some
technique for problem solving. It is important step because after completion of four steps of this
model Kotter's model provide clear direction that company has to remove obstacles for effective
result because these are directly affects the overall programme and project management.
Removing the barrier organization can easily achieve the successes through the project. Taking
action and implement the project strategy for business growth. Next step is to create short term
wins which means short terms wins are gives more strength in the new project development,
because every little wins are essential to make impressive change management. Other hand when
organization wants programme for change they use and implement techniques in their project
completion so its beneficial technique that company consider this for proper monitoring the
projects (Jung and et.al., 2021).
Build on the changes when organization programme reach short wins, but this success is
not developed long term achievement so company management department is believes in focuses
for long term success. Example if the company launch any one product in the market with new
process, they achieve target is great but if the organization launch ten or more then ten products
with new system and then business achieve success then it is clear that company can build new
improvement for more success.
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Anchor the changes in business culture which means organization has to stick on this
process if system easily provide effective result. Prepare plan to make the changes proper
manner, and daily try to develop new thinks on change. Maintain relation ship with employee tell
them any changes, takes review from them, recognize that employees are easily performed with
the changes in management or not. So overall research of the new approches are essential to
make effective development change management (Gössling and Higham, 2021).
Question 3: benefits management with programme management
Benefits management is important to programme management
Benefit management:
Benefits management includes planning, recognising and tracking the advantages from
project start or the investment in project until when reaches to the last projected benefits
(Pombo-Suarez and Gomez-Reino, 2020). The main objective of benefit management is to
ensure that the desired benefits are realistic, specific, can be measured or time bounded. The term
benefit management is also used with the benefits realisation term. Benefit management is
important because it combines programme and project delivery and also ensure successful
change management. The approach for programme or change management should be benefit
driven so that to get maximum value by doing investment in change. So the organisation's
approach to benefits management should be connected with corporate planning to make the
strong management beyond the execution of the project. In simple words it can be said that
concentrating on benefit management helps in making better decisions related to project and
program resource allocation (Matloob, Khan and Hussain, 2020).
Projects are considered as important because they give deliverables as per the financial plan and
also according to time. With the programs expectations are regrading past project deliverables
and also how those deliverables are to be applied to that they can provide benefits. The success
of programs are also gets measured against the capacity of which they are giving benefits.
Programs are the systems which is helpful in defining and realising benefits to the organisation.
Programs are said to be the investments which provides leveraged profits after doing investment
and it is received over time period. There is the requirement of new capabilities delivery and also
to bring organisational change so that benefits can be understood. Organisational change is not
easy as there is the requirement of effective leadership because when the leaders are effective
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then they are committed with their work (Jackson and et.al., 2019). Employees should also be
committed for change. Employees should also accept change because changes will provide
benefits to the organisation, employees and to the customers. After the benefits are described and
programs are got aligned to them then the program has converted into projects and procedures
which provide value to the organisation. As the globalisation is increasing and the global market
is also giving more importance to the value which is getting by doing investments in the project.
Benefits management via programme management is getting more attention. Program
management is the vehicle and with the help of that organisational transformation undertaken so
that benefits can be sustained. The programme can give value only if the benefits are measured
and managed properly (Zwikael, Chih and Meredith, 2018). So it an be said that concentration
on benefits are very much important as it is helpful in value optimisation. Benefits are very
important and should be linked with the company's objectives. For benefit management there
should be proper transparency and accountability. Example in order to be better in benefits
management companies can also use benefit management toolkit. This will help employees to
follow all rules.
CONCLUSION
It has been summarized form the above study that the preparation of the effective project
management plan can develop the organization success with impressive manner. It has been
concluded that models and theories gives more motivation for monitoring the new development
project system. This report provided information about that the strategic project management
plan improve the overall business project and programme. It shown that Alignment of the
strategy gives clear image that organization are followed some rules for strategic goal
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achievement. This study informed that management of various aspects with utilization of models
prepare more efficiency in goal achievement.
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REFERENCES
Book and Journal
Alabugin, A. A. and Oreshkina, N. S., 2021. Innovative Management of Regional Enterprises
based on the Integration of Analogue and Digital Models. Ekonomika Regiona. (2). p.418.
Ali, B. J. and Anwar, G., 2021. The mediation role of change management in employee
development. Ali, BJ, & Anwar, G.(2021). The Mediation Role of Change Management in
Employee Development. International Journal of English Literature and Social Sciences.
6(2). pp.361-374.
Annosi, M.C., Marchegiani, L. and Vicentini, F., 2020. Knowledge translation in project
portfolio decision-making: the role of organizational alignment and information support
system in selecting innovative ideas. Management Decision.
Chadee, A. A., and et.al., 2021. When Parallel Schools of Thought Fail to Converge: The Case
of Cost Overruns in Project Management. Buildings. 11(8). p.321.
Chen, S. and Lee, H., 2017. Incentive alignment and coordination of project supply
chains. Management Science. 63(4).pp.1011-1025.
Gilchrist, A., Burton-Jones, A. and Green, P., 2018. The process of social alignment and
misalignment within a complex IT project. International Journal of Project
Management.36.pp.845-860.
Gössling, S. and Higham, J., 2021. The low-carbon imperative: Destination management under
urgent climate change. Journal of Travel Research. 60(6). pp.1167-1179.
Jackson, D.L., Michaels, N.M., Melson, B., Bruder, E., Rhodes, L.A. and Marciniak, M.W.,
2019. Evaluation of the economic and clinical impact of community pharmacist-driven
pharmacy benefit management services. Journal of the American Pharmacists
Association.59(4). pp.S91-S94.
Jung, K., and et.al., 2021. A framework for making predictive models useful in practice. Journal
of the American Medical Informatics Association. 28(6). pp.1149-1158.
Kotter, J. (2016) The 8-Step Process For Leading Change [online] available from
<https://www.kotterinternational.com/8-steps-process-for-leading-change/&gt; [7 March
2017]
Matloob, I., Khan, S. and Hussain, F., 2020. Medical Health Benefit Management System for
Real-Time Notification of Fraud Using Historical Medical Records. Applied
Sciences.10(15). p.5144.
PMI Thought Leadership Series Report. 2015. “Implementing the Project Portfolio: A Vital C-
Suite Focus.” http://www.pmi.org/~/media/PDF/Publications/implement-project-portfolio-
c-suite.ashx
PMI’s Pulse of the Profession. 2016. “The High Cost of Low Performance: How will you
improve your business results?” http://www.pmi.org/~/media/PDF/learning/pulse-of-the-
profession-2016.ashx
Pombo-Suarez, M. and Gomez-Reino, J.J., 2020. Risk/benefit management in the infectious
phase in systemic autoimmune rheumatic diseases. In Handbook of Systemic Autoimmune
Diseases (Vol. 16, pp. 179-203). Elsevier.
Zwikael, O., Chih, Y.Y. and Meredith, J.R., 2018. Project benefit management: Setting effective
target benefits. International Journal of Project Management.36(4).pp.650-658.
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