Strategy and business management

Introduction

Project managers have an important job. They help their teams to deliver on their promises. But to really understand these promises and why they are important, the project manager must understand the operation of businesses.

Let's talk about ways to align a project with the overall priorities of the organization. Then we will look at each of the main functions in an organization

Finally, we will connect the dots between these concepts to develop the business sense to work together more effectively.

I - Strategy and business management

The skills that a project manager must have are described in the form of an image called the triangle of talent.

◆ A side of the triangle talent's management of technical projects. Project managers must master the use of Gantt charts, spoke with authority of the Division of labour between the structures and evaluated risk.

◆ The next side of the triangle talent's leadership. It answers the question: How do you motivate people to work effectively toward your goals? Leadership skills are not unique to project managers, but they are particularly important because project managers will often fill the gaps in a project.

◆ And the third side of the triangle talent strategic and business management or business acumen. It is to learn how organizations work and why they do what they do.

The triangle of talent is an easy way to think about the range of skills of project managers need to develop throughout their careers.

II - Alignment of the project with business strategy

Organizations must adapt to the changes, projects are how organizations change. They are the way that organizations implementing the strategy.

The thing that differentiates a project from a process, it is that projects always have beginning and a defined end. And a project with a budget. These three elements, the scope, schedule and budget, are called the triple constraints. And the project manager ensures that the team made the change planned within the limits defined by the triple constraints. There are many things that can altered the way to complete a project, those are the risks. A frequent risk for projects is the complexity. These risk management to ensure the success of the projects. The official definition of the risk of the project management Institute is an uncertain event or condition that if it occurs, has a positive or negative impact on the objectives of the project, but for most cases, a risk is something that could go wrong . A useful approach is to classify risk into three categories. Global risks, the and systemic. A risk is something that happens in the world around your organization, and it is completely out of your control. Risks include things like changes in the revenue Outlook for the Organization, the availability of the members of the team, and changes to production schedules. Systemic risks may be the most difficult to treat.

The difference between the strategic, tactical and operational perspectives in business: most professionals start their careers focused on operational issues there where the real value is created and delivered to customers. Tactical projects and tactical decisions require a more long-term vision and a broader operational decisions.

Then the notion of SMART goal: specific, measurable, assignable, realistic and temporal. It's a good way to ensure that the projects are implemented to succeed.

Sustainability means that we must think for an organization in terms of three things: People, profit and planet. This is what is called a Triple Bottom Line approach. Using an approach Triple Bottom Line is a great way to understand, explain and promote the viability of your project.

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