Strategic Project Management

Running head: STRATEGIC PROJECT MANAGEMENT
Strategic Project Management
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STRATEGIC PROJECT MANAGEMENT
Table of Contents
Introduction..........................................................................................................................2
1. Success Criteria...............................................................................................................2
2. Governance......................................................................................................................4
3. Definition.........................................................................................................................6
Conclusion...........................................................................................................................7
References............................................................................................................................8

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STRATEGIC PROJECT MANAGEMENT
Introduction
Management of a project is subjected to correct evaluation of success criteria of the
project, the governance process of the project along with management of the undertaken project.
It is integral to analyze the success criteria for execution of the project as it is one of the main
factors linked with project benefit realization management (Serra and Carlos Eduardo Martins
2015). The report will be evaluating the concept of project governace. It is observed that there is
an immense pressure on the managers in demonstration of the value they have in a chosen
projects. It is observed that a massive number of projects may not be meeting their objectives
due to lack of governace and therefore, it is considered to be one of the most critical criteria of
project success (Samset, Knut and Gro Holst Volden 2016). This particular project is based on
the case study that deals with the launching of the project is support to improvement of the social
lives of individuals living in a remote village situated in Kenya. The budget estimated for this
project is AUS$ 3 million. Accurate identification of the project success criteria, governace and
the definition of the project is needed to ascertain that the project is delivered within the
scheduled time and the estimated budget.
1. Success Criteria
The success criteria can be described as a measurable terms, linked with the outcome of
the project. A chosen project can only be termed as successful only if all the objectives of the
same are fulfilled (Joslin, Robert and Ralf Müller 2016). Although there cannot be any
interpretation of success of a project, there can be certain criteria in a project, which indicate that
a project is successfully delivered. Therefore, it becomes quite necessary to identify the success
criteria that will help in ascertaining if the objectives of the project is accomplished. There are

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STRATEGIC PROJECT MANAGEMENT
two distinct component linked to the success of the chosen project, one is the success of project
management, while the other is success of the product that is being delivered (Aliza et al. 2011).
Therefore, it becomes critical to evaluate the success criteria related to the execution of the
project.
The project management success, generally has three crucial components which include,
meeting the time, cost and the quality specified; meeting the standard quality of process of
project management and satisfying the stakeholders’ requirement and the process of project
management that is being followed in the project (Gomes, Jorge and Mário Romão 2016). The
quality of project management generally indicates how efficiently the project has been managed
while it is being implemented. The project success also, rely on the fact that whether the issues
present in the project were dealt with in an efficient manner.
The success criteria of a product is quite different from the product success. A product’s
success, is generally linked with three different components, which include meeting the strategic
organizational objective of the project owner, satisfaction of the needs of the users along with the
satisfaction of the needs of the stakeholders.
It is crucial to identify the success criteria of the undertaken project as it is a high priority
project that has been undertaken in consideration with a social cause. The success criteria related
to the execution and completion of this particulate project is indicated as follows-
1. The project will only be termed as successful if, it is completed within the budget of
AUS$ 3 million. This is linked with the project management processes that is followed in
execution and completion of a project.