Aligning Projects with Strategy : A Practical Framework - E-book - ePub

Project management and strategy alignment is the process of ensuring that project objectives and activities are in line with the overall strategic goals of an organization. It involves identifying the strategic goals, defining project objectives that align with those goals, and implementing and monitoring projects in a way that supports those goals.  The framework for aligning project objectives with organizational strategies is a systematic approach to ensure that the project objectives and goals are aligned with the overall strategy of the organization.
The most important details in this text are the steps to analyze the gap between the project objectives and the organizational strategy. These steps include comparing the project objectives with the organizational strategy, analyzing the reasons for the gap, and developing an action plan to close the gap. Additionally, regular progress updates, evaluation of performance, identification and management of risks, review and adjustment of plans, management of stakeholder expectations, alignment of project objectives with organizational strategies, development of performance indicators, linking performance indicators to projects, assigning responsibility, monitoring and reporting progress, and creating a Balanced Scorecard are all important tools for aligning project objectives with organizational strategies.  Identify key resources, develop activities, analyze fit again, measure success, identify organizational goals, identify relevant KPIs, define targets, develop monitoring and reporting mechanisms, monitor and evaluate KPIs regularly, and take action to address any issues.
Benefits realization management (BRM) is the process of identifying, planning, measuring, and tracking the benefits of a project. Continuous improvement is an important aspect of measuring success in aligning project objectives with organizational strategies.