Management Centre Europe | MCE | Organizational and Management Development - Strategy Execution

Key Projects and Project Portfolios

Implementing Strategy through Key Projects and Project Portfolios

MCE helps you manage key projects, from the Programme Office to Individual Departments

Do you sometimes review your project portfolio and feel overwhelmed by the number of projects at any given time? Do you sometimes wonder why some projects are even on the agenda?
Key Projects and Project Portfolios
Implementation of strategy requires a portfolio of aligned projects that support the strategy. Selecting “the right projects” is critical for making your strategy a reality. Are your projects going in every direction, or is time and effort being focused on the projects that most directly impact implementation of the strategy? Then, the portfolio and the projects need to be managed.

 

Focusing on the Right Projects

As projects become more complex – across functions, across geographies, involving multiple suppliers or customers – it becomes even more important to ensure your managers’ attention and resources are being invested in the most important strategic projects.

Managers need to ensure alignment of projects to strategy. Executive sponsorship is essential to the success of any project in terms of being delivered on budget and on time with the desired results. Too many strategic projects run like underground projects while senior management attention is tied up in high-profile, but less strategic projects.

 

A Home for Strategy

Strategy needs to be broken down into several key projects in order to succeed. The Strategy House provides a good overview of which projects need to stay at the forefront of senior management attention, so that the strategy can be implemented. Everyone in the company can see how those projects are linked to the Mission, Vision and Customer Value Proposition. A one-page summary is easy to communicate and remember, easy to track and manage, and provides a way to tie together the complex details behind each project. The Strategy House is regularly revisited and monitored to make sure the strategy is on track.


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The Strategy House

 

Manage the Implementation of Strategy through a Portfolio of Projects

Developing a portfolio management approach is vital for ensuring that strategic projects stay on track. Strategic objectives are translated into projects and managed continuously. They are revisited and revised regularly as conditions in the business environment change and information feeds back from front line implementation. 

Project-Manage Strategy Implementation

Project management is now a central part of every manager’s job. Routine jobs hardly exist anymore. Routine processes are automated or outsourced. The real work of managers in every discipline is about managing projects. In practical terms, that means more people need to have the knowledge and skills to manage projects.

In order for companies to implement strategy, they need to ensure that the people on key projects and related sub-projects have professional-level project management skills. This will help to ensure that work is done and goals are accomplished smoothly.

Most managers are expected by their companies to deal with a large number of complex implementation projects. Too often, they are expected to deliver results without a foundation of project management skills and tools to help them achieve it all. Statistics show that many of these managers fail – 84% of all projects are either over budget, delivered late or do not meet specifications.

Professional project management requires technical proficiency in a methodology such as PMBOK® or Prince 2®. It also requires people management skills. Project managers need to be good at both. 

 

Talk to MCE about Implementing your Strategy through a Portfolio of Projects

MCE's Senior Associates

Our Senior Associates can work with management teams or individual managers to address all of the people and change management challenges facing industries, businesses and organizations today. They draw on their years of experience in top managerial and leadership roles to help you solve problems and identify "what works" in different circumstances, countries and cultures. Above all, they have led their people through the challenges of developing new capabilities and working in a different way. They apply their expertise in a wide variety of services, including: