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Assignment on Strategic Project Management

   

Added on  2020-12-18

15 Pages3878 Words81 Views
STRATEGIC PROJECT MANAGEMENT

TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3QUESTION 1...................................................................................................................................3Explaining how projects are linked to strategic plan...................................................................3QUESTION 2...................................................................................................................................7Describing major components of Strategic management process...............................................7QUESTION 3...................................................................................................................................9Role, task and skills of project management...............................................................................9QUESTION 4.................................................................................................................................10Project portfolio system.............................................................................................................10QUESTION 5.................................................................................................................................115.Five common project risk strategies to identify threats that project may face.......................11CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14

INTRODUCTION The strategic project management is one of the crucial aspect in the organization. Presentreport deals with GGMC (Gulf Glass Manufacturing Company) located in Kuwait and engagedin glass manufacturing. Strategic management is beneficial for company in attaining an edgeover its competitors by formulating strategy. Explanation of how projects are linked to strategicplan will be discussed. Along with it, various components of strategic management process willbe enumerated in effective manner. On the other hand, it will also include explanation aboutrisks that arise in projects and how it could be overcome. Moreover, for reducing project risks,importance of project portfolio system will be implemented in a better manner. The role andtasks performed by project manager in company will also be discussed. Hence, importance ofstrategic project management has much influence on overall performance of business and how itcan achieve project completion within stipulated time.QUESTION 1Explaining how projects are linked to strategic planThe strategic planning is required to be done in a better manner so that firm may be ableto accomplish set objectives in the best manner possible. It can be analyzed that for completingproject within stipulated time, strategic management needs to be implemented. It guidescompany to have proper direction so that tasks can be accomplished with ease. Businessenvironment is then studied and creating business strategy is required so that stated goals can beaccomplished. Projects are concrete action which are taken by business for executing strategicplan. The two models can be listed such as Kaizen Model and TQM Model are explained below-Kaizen Model

Figure 1 Kaizen Model Source: Kaizen cycle for continuous improvement. 2018Kaizen model is a strategy to make continuous improvement as small changes can reapmore of the improvements quite effectually. It is quite important for Gulf Glass ManufacturingCompany (GGMC) which is engaged in manufacturing of glass and it can eliminate wastageduring production quite effectually. It can be interpreted from above chart how Kaizen cycle forcontinuous improvement works. The stages are listed below-Get employees involved-The involvement of workers are required so that issues and problems may be analyzed.Specific group of employees should be charged with gathering information.

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