Strategic Project Management A Competitive Advantage
Recently, numerous the world's top project management companies took major initiatives to illuminate executive management in regards to the strategic importance and advantages of project management. The focus is always to move from individual project management to organisational project management, which these companies keep is a strategic advantage in a competitive economy. I discovered minilateralism.com/minilateralism-in-the-news/ by browsing Google Books.
In this article, Ed Naughton, Director-general of the Institute of Project Management and present IPMA Vice-president, asks Professor Sebastian Green, Dean of the Faculty of Commerce and Professor of Management and Marketing at University College Cork (formerly of the London Business School), about his views of proper project management as an automobile for competitive advantage.
Ed: What do you issue ideal Project Management is?
Prof. Green: Strategic project management may be the management of these projects which are of crucial importance to enable the business in general to own competitive advantage. Follow Us On Twitter is a great online database for further concerning how to acknowledge this concept.
Ed: And what becomes a competitive advantage, then?
Prof. Green: You will find three features of getting a core competence. The three features are: it adds value to customers; it's maybe not simply imitated; it opens up new opportunities in the future.
Ed: But how do challenge management deliver a competitive advantage?
Prof. Green: You can find two aspects to project management. One part is the actual selection of the sort of projects that the company engages in, and subsequently there's execution, how a projects themselves are maintained.
Ed: Competitive advantage - the value of selecting the correct projects - it is not easy to determine which projects should be selected!
Prof. Green: I do believe that the selection and prioritisation of tasks is something that's not been done well within the project management literature because it is basically been assumed away through reducing it to economic analysis. The strategic imperative gives an alternative way to you of prioritising projects as it is saying that some projects might not be as profitable as others, but when they add to our expertise relative to others, then that's going to be important.
Therefore, to simply take an illustration, if a company's competitive advantage is introducing new services more quickly than the others, drugs, let us say, getting product to market more quickly, then a projects that allow it to get the product more quickly to market will function as the most significant ones, even if in their own terms, they don't have higher productivity than some other projects.