Advantages Of Project Management As A Strategic Tool

Project management as a strategic tool Project management is conventionally defined as a “temporary endeavor undertaken to create a unique product or service” (Project Management Institute 2008). Alternatively, a project can be thought of as a well-defined set of tasks that must all be completed in order to meet the project's goals (Klastorin 2004). In a typical project, many tasks are performed concurrently with each other. Another key feature of projects is the existence of precedence relations between the tasks. These relations typically define constraints that require one task to be completed before another starts. Compared to many business processes, project management appears to be particularly difficult, from both theoretical and practical

• Stakeholder management

The project alignment tool enables an efficient and effective alignment between strategic and operational planning, furthermore it provide an integrated standardized management process leading to an integrated implementation of the project in line with the strategic requirements (Andreas STEFFEN: 2013)

The benefits/ advantages of project management as a strategic tool

The ultimate benefit of implementing project management techniques is having a satisfied customer—whether you are the customer of your own project, such as remodeling your basement, or a business (contractor) being paid by a customer to perform a project.( successful project management fifth edition)

• Completing the full project scope in a quality manner, on time, and within budget provides a great feeling of satisfaction and/or referrals for more business

• Project managers have satisfaction, enhanced reputation, and expanded career opportunities

• Project team members have contributed to the project's success, expanded knowledge, and enhanced skills

• When projects are successful, everyone wins

• Knowing when objectives cannot be met or will be exceeded

• Improved estimating capability for future

Clements West Virginia University

International Journal of Project Management (2014)

Blomquist, T., Müller, R., 2006. PRACTICES, ROLES, AND RESPONSIBILITIES OF MIDDLE MANAGERS IN PROGRAM AND PORTFOLIO MANAGEMENT. Project Management Journal,

Interactions-based risk clustering methodologies and algorithms for complex project managementFranck MARLE1, Ludovic-Alexandre VIDAL1, Jean-Claude BOCQUET1

Strategic Management: Competitiveness and Globalization (Concepts and Cases) 8th Edition Michael A. Hitt, R. Duane Ireland, and Robert E. Hoskisson

Project management for engineering, business and technology / John M. Nicholas and Herman Steyn. -- 4th ed.p. cm

PROJECT MANAGEMENT: RECENT DEVELOPMENTS AND RESEARCH OPPORTUNITIES Nicholas G.