Strategic Project Alignment

• The lecture discusses strategic project alignment
• Dr. Shahida Mariam is the presenter

Project Life Cycle

• The cycle includes Starting, Organizing, Carrying Out, and Ending the Project
• Strategic Project Management aligns with organizational vision, mission, strategies, goals, and objectives

Core Processes

• Core processes include Initiating, Planning, Executing, Monitoring/Controlling, and Closing
• Project Management involves 10 knowledge areas including Integration, Scope, Schedule, Cost, Quality, Resource, Communication, Risk, Procurement, and Stakeholder management

Session Learning Outcomes

• Define and explain strategic project alignment
• Analyze organizational structure and governance
• Apply portfolio management concepts
• Develop a strategic alignment plan
• Evaluate alignment maturity, challenges, and best practices

Strategic Project Management

• Strategic Analysis -> Strategic Choice -> Strategic Implementation
• It planning, executing, and controlling projects that align with an organization's strategic goals
• Students will be able to define, explain its importance, and describe its key components of strategic project alignment

Strategic Project Alignment

• Definition: Ensuring projects support organizational goals
• Key Idea: Projects must align with vision, mission, and strategic priorities
• Example: New product development for market expansion -PMO strategies for alignment include:
  • PMO objectives
  • PMO service
  • Capability an capacity
  • Strategic project selection and prioritization
  • Project portfolio management
  • Performance metrics
  • Decision-making processes
• Organizational Strategy aspects include:
• Mission: Purpose/reason for the organization's existence
• Vision: Articulates the desired future state
• Goals and objectives: Aims to accomplish -Values: Guide behavior and decision-making -Competitive advantages: Differenciate from competitiors

Why Strategic Alignment Is Important

• Resource optimization
• Value creation
• Stakeholder satisfaction
• Sustainable competitive advantage

Components of Strategic Alignment

• Organizational Strategy
• Project Selection
• Stakeholder Engagement
• Performance Measurement

Analyzing Organizational Structure and Governance

• How organizational structure influences alignment (functional, matrix, projectized)
• The role of leadership in driving alignment
• The Importance of cross-functional collaboration
• Project, functional, or matrix structured organization

Governance in Strategic Alignment

• Definition: Framework for decision-making and accountability
• Key Elements:
• Clear roles and responsibilities
• Decision-making processes
• Risk management
• Regular reviews and audits
• Project Governance is Important for:
• Alignment with organizational objectives
• Risk Management
• Accountability and Transparency
• Quality Assurance
• Stakeholder Engagement
• Resource Optimization

Portfolio Management and Alignment

• Definition: Managing a group of projects to achieve strategic objectives
• Key Processes:
• Project selection and prioritization
• Resource allocation
• Balancing risk and return

Strategic Alignment Plan

• It Includes:
  • Defining strategic objectives for a business
  • Assessing existing and proposed projects
  • Prioritizing projects using established criteria
  • Monitoring and adjusting to ensure alignment

Tools and Techniques for Alignment

• Balanced Scorecard: Helps businesses measure and improve performance
• Strategy Maps: Visual tool showing how objectives are connected
• Portfolio Management Software: iPAS (Integrated Project Automation System) used for selection, prioritization, and control
• SWOT Analysis: Assesses strengths, weaknesses, opportunities, and threats for decision-making

Alignment Challenges

• Define alignment maturity, challenges, and best practices
• Alignment maturity is the degree to which an organization has achieved strategic alignment of its projects
• Common Challenges in Alignment:
  • Lack of clear strategy of the business
  • Misaligned goals between team and the business
  • Lack of resources
  • Resistance to change
  • Poor communication
  • Lack of accountability

Characteristics of High Alignment Maturity

• Clear and well-defined organizational strategy
• A robust project portfolio management
• Effective governance and decision-making processes
• A culture of collaboration, communication, and strategic thinking
• Regular monitoring and evaluation of project performance
• Regular evaluation of benefit realization

Improvement from maturity leads to:

• Improved strategic execution and achievement of objectives
• Enhanced project delivery and benefit realization
• Better resource allocation and utilization
• Increased stakeholder satisfaction and engagement
• Competitive advantage through strategic agility and adaptability

Best Practices for Alignment

• Measure progress and adjust as necessary
• Use technology to streamline processes
• Foster a culture of collaboration
• Communicate clearly and regularly
• Define roles and responsibilities
• Set clear goals and objectives

Case Study - Tesla

• Strategic Goal: Accelerate the world's transition to sustainable energy
• Aligned Project: Development of the Model 3
• Outcome: Best-selling electric car, supporting Tesla's mission and growth

Experiential Group Exercises

• The report is due week 14 of class

Suggested Research

• Six Habits of Highly Effective Project Leaders
• Review the available link on youtube