University Assignment: Strategic Thinking in Project Management Report

This report delves into the crucial role of strategic thinking within project management. It begins by defining strategic thinking and its significance, followed by a literature review that establishes the conceptual framework. The core of the report examines the application of strategic thinking through a mind map, illustrating its importance in various aspects of project management, including innovation, risk management, resource allocation, and stakeholder engagement. The report also explores the ability of strategic thinking to help manage project complexities, align project goals with business objectives, and adapt to changes. Finally, the report offers recommendations for enhancing strategic thinking skills and concludes by summarizing the key findings and emphasizing the benefits of integrating strategic thinking into project management practices.

qwertyuiopasdfghjklzxcvbnmqw
ertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiop
asdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfgh
jklzxcvbnmqwertyuiopasdfghjkl
zxcvbnmqwertyuiopasdfghjklzxc
vbnmqwertyuiopasdfghjklzxcvb
nmqwertyuiopasdfghjklzxcvbnm
qwertyuiopasdfghjklzxcvbnmqw
ertyuiopasdfghjklzxcvbnmqwert
yuiopasdfghjklzxcvbnmqwertyui
opasdfghjklzxcvbnmqwertyuiop
asdfghjklzxcvbnmqwertyuiopasd
fghjklzxcvbnmqwertyuiopasdfgh
jklzxcvbnmrtyuiopasdfghjklzxcv
Strategic Thinking in Project Management
Report
4/4/2019

Strategic Thinking in Project Management
Table of Contents
Introduction...........................................................................................................................................2
Literature Review..................................................................................................................................2
Strategic Thinking.............................................................................................................................2
Mind map..........................................................................................................................................3
Role & Importance in Project Management.......................................................................................3
Recommendations.................................................................................................................................7
Conclusion.............................................................................................................................................7
References.............................................................................................................................................9
1

Strategic Thinking in Project Management
Introduction
Strategic Thinking is a process in which an individual applies the thinking processes to
achieve a certain set of goals. The thinking processes developed are applied in the form of
certain strategies and plans.
Project Management is a discipline in which the projects are managed using the defined set of
guidelines. There are several resources involved in the process of managing a project with
Project Manager being the prime resource. There are numerous skills that are required for
successful project management. Strategic thinking also has certain role and relevance in
project management.
Literature Review
Strategic Thinking
Strategic Thinking is a mechanism in which the people think, assess, and view a particular
situation to strategically proceed and achieve the associated goals and aims1. It involves the
development of the entire set of critical skills and it is an extremely effective tool, especially
in the professional environment. It combines the strategic analysis and planning activities for
the purpose of decision-making at the workplace.
It is the thinking ability to broaden the perspectives to achieve innovation and competitive
edge in the market. Strategic planning, strategic thinking, and problem-solving are usually
considered as the inter-exchangeable terms; however, there is a difference between the three.
Strategic thinking is a pro-active and a day to day activity that is carried out in a business
environment whereas strategic planning is usually done once or twice in a year. Problem-
solving on the other hand is a reactive process. Strategic thinking also focusses on the
innovation and improvement to achieve long-term results2.
1 Age Johnsen, "Strategic Management Thinking And Practice In The Public Sector: A Strategic
Planning For All Seasons?" (2015) 31(3) Financial Accountability & Management.
2 Martin Kunc, "Teaching Strategic Thinking Using System Dynamics: Lessons From A Strategic
Development Course" (2012) 28(1) System Dynamics Review.
2

Strategic Thinking in Project Management
Mind map
Role & Importance in Project Management
It is important to understand and apply the strategic thinking practices in project
management.
Innovation is one of the significant elements that are involved in the strategic thinking
processes. It is necessary for the project managers and leaders to incorporate innovative
practices and tasks to make sure that the projects are successful. There are a number of
different areas that are involved in the domain of project management. Some of these include
scope management, time management, cost management, resource management, and several
others. The use of traditional mechanisms to manage these project areas will not provide
success to the Project Managers and Leaders in the present time. It is necessary to maintain
the element of innovation to distinguish the projects from the rest in the market. It is also
required that the project areas are kept in sync with each other to achieve successful results3.
The project environment may be simple or complex to deal with. It is the responsibility of the
Project Managers to make sure that the complex business environments are handled and the
complexities are reduced to achieve project success. Strategic thinking is one such tool that
comes to play in such cases. The application of strategic thinking and abilities can be done to
3 Tony Grundy, "Strategic Project Management And Strategic Behaviour" (2013) 18(2) International
Journal of Project Management.
3

Strategic Thinking in Project Management
reduce the complexities. There are critical thinking skills that can be applied to understand
the nature of the complexities and the measures to reduce the same.
There are also various risks involved in the projects. These risks may come under different
categories, such as project-related risks, technical risks, environmental risks, operational
risks, information security risks, and several others. The resolution and handling of these
risks is significant to make sure that the risks do not have an impact on the project continuity
and success. The strategic thinking processes ensure that the advanced risk planning and
analysis is done to develop the measures to mitigate and avoid the risks. There is also
extensive research and assessment done to work on the root causes of these risks so that the
probability of risk occurrence is nullified.
It is also necessary that the projects that are carried out are linked with the business strategy
and objectives. The goals and objectives of the project must be strategically aligned with the
goals and objectives of the entire organization. Strategic thinking along with strategic
planning ensures that strategic project management is carried out in the business
organizations4. It ensures that the goal alignment and assessment is done in the initial phases
of the project. The project goals and organizational business strategy is interlinked and
aligned with each other through such a process.
There are limited resources that are assigned to the projects. These limitations are in terms of
the money, human resources, and duration. It is extremely necessary that these resources are
optimally utilized in the project and are also distributed correctly. Strategic thinking is a
process that provides the detailed set of guidelines on the usage of these resources evenly.
Also, it includes the details on the distribution of the resources in such a manner that the
project goals and objectives are achieved. Resource management is one of the significant
project knowledge areas which are effectively managed using the strategic thinking
mechanisms5. There are also certain scenarios during the project timeline wherein some of the
human resources may not feel motivated to contribute towards the project. They may witness
a drop in their productivity levels and may also observe deterioration in their engagement
levels. It is the responsibility of the Project Manager to make sure that the resource
involvement in the project is always maintained. It is also essential that the resources are kept
motivated to perform better. Strategic thinking abilities can be put to work in such scenarios
4 Y. Petit, "Advancing Project And Portfolio Management Research: Applying Strategic Management
Theories" (2012) 28(9) Strategic Direction.
5 Rajat Arora, "Role Of Performance Improvement And Instructional Design In Strategic Human
Resource Management" (2016) 5(1) Journal of Strategic Human Resource Management.
4

Strategic Thinking in Project Management
and the resource discussions, policies for the project resources, and decision-making
activities shall be carried out in such a manner that the resource involvement is maintained at
all times.
Changes are also a part of a project. The business projects usually continue for several
months or years. There are internal and external factors that are involved in these projects.
These factors are exposed to several changes. For example, there may be changes in the
government rules and policies during the project lifecycle. There are also several
developments and enhancements being observed in the area of technology. The changes in
the technological applications and domains may also be observed6. Similarly, the changes in
the resource productivity levels, project requirements and specifications, and other project
areas may also be experienced. It is necessary that the management of these changes is
effectively done so that the continuity of the project tasks and activities is not disturbed at any
point of time. Strategic thinking is a mechanism that offers the best possible measures to
handle the changes and make sure that the change handling process is streamlined.
The business organizations have several competitors in the present times. There are existing
units that are threat to the business firms and organizations. Also, there are new entrants in
the market that are making their mark with every passing day. The consumer expectations
and requirements are also dynamic and it is not easy to maintain the consumer experience and
have a competitive edge in the market all throughout. There are variations that are observed
in the business operations and activities. There may be enhanced market shares and profits
that will be earned; also, there may be certain losses and drawbacks witnessed at continuous
points of time7. However, the success of the business organizations and projects can be
achieved when the customers are offered with their desired set of products and services. Also,
the consumers tend to shift towards the organizations that offer them with innovative
products and maintain the sustainable development goals. The strategic thinking abilities of
the management provide the business firms to make customer-oriented decisions to achieve
enhanced profits and revenues.
The business organizations are also required to grow at all times. The business units cannot
remain static at any point of time. It is necessary that the identification of the newer business
opportunities is done at regular intervals. It is also essential that the involvement of the
6 Ruchi Agarwal and Jake Ansell, "Strategic Change In Enterprise Risk Management" (2016)
25(4) Strategic Change.
7 Rakesh K. Mishra, "Identification Of Strategic Project Management Resources In Indian Software
Project Management Companies" (2014) 7(9) Prabandhan: Indian Journal of Management.
5

Strategic Thinking in Project Management
stakeholders is maintained all throughout. The business organizations cannot achieve success
with the effort of a single person. It is always the team effort and contribution that is required
to achieve success. There are conflicts that may come up among the members of the project
teams during such processes. Also, there may be conflicts among the project stakeholders and
the resources. These conflicts, if unresolved, can lead to the drop in the productivity levels of
the resources and may also have a negative influence on the stakeholder engagement levels. It
is the responsibility of the respective Project Managers and senior management to ensure that
such conflicts and issues are avoided and resolved and the best interests of all the parties are
kept intact8. Strategic thinking can allow the project managers to take the best possible
decisions in such cases. In case of the conflicting perspectives, it is usually not easy to
collaborate and reach to a specific conclusion and consent. However, strategic thinking
provides a win-win situation for all parties as there is extensive analysis conducted to have
the best possible solution.
Decision-making is another activity that is extremely significant for the Project Managers.
There are various decisions that a Project Manager is required to make from the beginning till
the end of the project. For example, in the beginning of the project, the project manager
makes the project estimates and also selects the resources in the project team. The decision on
the project scope, schedule, and budget is taken by the Project Manager with collaboration
from the other resources9. The decision on the methodology to adopt in the project is also the
main decision of the Project Manager. The communication tools to be used in the project, the
risk management plan to be implemented, stakeholder mapping, and several other decisions
are taken by the Project Manager during the timeline of a project. These decision-making
abilities can be simplified by using the strategic thinking capabilities as the tool.
Recommendations
Every resource in the project team has certain skills and abilities. It is necessary for these
resources to continually improve upon the skills, capabilities, and knowledge to perform
better. Strategic thinking is one such area that must be developed and enhanced by the
resources engaged in the resources. The need for strategic thinking is even more critical for
the resources at the managerial and leadership positions.
8 Riza Yosia Sunindijo, "Project Manager Skills For Improving Project Performance" (2015)
16(1) International Journal of Business Performance Management.
9 Marjolein C.J. Caniëls and Ralph J.J.M. Bakens, "The Effects Of Project Management Information
Systems On Decision Making In A Multi Project Environment" (2012) 30(2) International Journal of
Project Management.
6

Strategic Thinking in Project Management
There are several mechanisms that may be used for the enhancement of strategic thinking.
Introspection and SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis shall
be done in the first step to have an idea on the current set of capabilities and the improvement
areas that may be worked upon. There are different courses and training sessions that are
organized to improve the strategic thinking and associated capabilities. There are also
practical exercises that may be untaken to determine the knowledge and skills10.
In a business environment, there are a number of experts and senior resources that are
present. The assistance and guidance from these senior and experienced resources must be
achieved to ensure that the skill enhancement is done.
Conclusion
Strategic thinking is one of the necessary tools in the present times. It has a significant role in
the professional tasks and responsibilities. Also, project management is one of the areas
wherein strategic thinking has an essential role to perform. It is necessary to maintain the
element of innovation to distinguish the projects from the rest in the market. It is also
required that the project areas are kept in sync with each other to achieve successful results.
The strategic thinking processes ensure that the advanced risk planning and analysis is done
to develop the measures to mitigate and avoid the risks. There is also extensive research and
assessment done to work on the root causes of these risks so that the probability of risk
occurrence is nullified. Strategic thinking along with strategic planning ensures that strategic
project management is carried out in the business organizations. It ensures that the goal
alignment and assessment is done in the initial phases of the project. Strategic thinking is a
mechanism that offers the best possible measures to handle the changes and make sure that
the change handling process is streamlined. Resource management, decision-making,
organization growth, and business success are the other areas in which strategic thinking
plays an important role.
10 Peerasit Patanakul and Aaron J. Shenhar, "What Project Strategy Really Is: The Fundamental
Building Block In Strategic Project Management" (2012) 43(1) Project Management Journal.
7

Strategic Thinking in Project Management
References
Agarwal, Ruchi and Jake Ansell, "Strategic Change In Enterprise Risk Management" (2016)
25(4) Strategic Change
Arora, Rajat, "Role Of Performance Improvement And Instructional Design In Strategic
Human Resource Management" (2016) 5(1) Journal of Strategic Human Resource
Management
Caniëls, Marjolein C.J. and Ralph J.J.M. Bakens, "The Effects Of Project Management
Information Systems On Decision Making In A Multi Project Environment" (2012)
30(2) International Journal of Project Management
Grundy, Tony, "Strategic Project Management And Strategic Behaviour" (2013)
18(2) International Journal of Project Management
Johnsen, Age, "Strategic Management Thinking And Practice In The Public Sector: A
Strategic Planning For All Seasons?" (2015) 31(3) Financial Accountability & Management
Kunc, Martin, "Teaching Strategic Thinking Using System Dynamics: Lessons From A
Strategic Development Course" (2012) 28(1) System Dynamics Review
Mishra, Rakesh K., "Identification Of Strategic Project Management Resources In Indian
Software Project Management Companies" (2014) 7(9) Prabandhan: Indian Journal of
Management
Patanakul, Peerasit and Aaron J. Shenhar, "What Project Strategy Really Is: The Fundamental
Building Block In Strategic Project Management" (2012) 43(1) Project Management Journal
Petit, Y., "Advancing Project And Portfolio Management Research: Applying Strategic
Management Theories" (2012) 28(9) Strategic Direction
Sunindijo, Riza Yosia, "Project Manager Skills For Improving Project Performance" (2015)
16(1) International Journal of Business Performance Management
8