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Organization Strategy and Project selection
Strategy – Basic Concepts ,[object Object],[object Object]
[object Object],[object Object],What is Strategy?
What is Strategic Management? ,[object Object],Strategy Company Competitors Customers
Why? ,[object Object],[object Object]
Why Project Managers Need to Understand the Strategic Management Process ,[object Object],[object Object],[object Object]
Strategic Planning ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Strategic Management Process:  An Overview ,[object Object],[object Object],[object Object],[object Object],[object Object]
Strategic Management Process FIGURE 2. 1
Strategy formulation and implementation in the strategic management process.
Strategic Management Process (cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Review and Define Organizational Mission ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1
Long Range Goals and Objectives ,[object Object],2
Analyze Strategies to reach Objectives ,[object Object],[object Object],3
Characteristics of Objectives EXHIBIT 2. 1 S   Specific  Be specific in targeting an objective M   Measurable  Establish a measurable indicator(s) of progress A   Assignable  Make the objective assignable to one person for completion R   Realistic  State what can realistically be done with available resources T   Time related
Implement Strategies through Projects ,[object Object],2
Project Portfolio Management Problems ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Portfolio of Projects by Type FIGURE 2.2
A Portfolio Management System ,[object Object],[object Object],[object Object],[object Object],[object Object],Classifications of the Project
Financial Models ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Financial Models (cont’d) ,[object Object],[object Object],[object Object],[object Object]
Example: Calculating the Payback Period and Internal Rate of Return Both projects are estimated to have constant annual savings  over the next 5 years. Payback criteria for this company- must be within 5 year horizon
Example: Calculating the Net Present Value Reconsider the same 2 projects with a 15% discount rate, 5 year Time Horizon
Project Screening Matrix Example FIGURE 2.3
Non-Financial Criteria ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Applying a Selection Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Project Proposals ,[object Object],[object Object],[object Object],[object Object],[object Object]
Project Screening Process FIGURE 2.5
Managing the Portfolio ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Checklist Selection Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Project Portfolio Matrix FIGURE 2.7
Project Portfolio Matrix Dimensions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Possible Evaluation Criteria When Classifying And Ranking Projects  Level of technical difficulty to successfully complete the project within given time and resource constraints Technical Difficulty / Risks Number of individuals and the length of time needed to complete the project Project Size / Duration Amount and type of resources the project requires and their availability Resource Availability Extent to which the project is viewed as improving profits, customer service, and so forth and the duration of these benefits Potential Benefits Extent to which the project is viewed as helping the organization achieve its strategic objectives and long-term goals Strategic Alignment Extent to which activities add value and costs when developing products and/or services Value Chain Analysis Description Evaluation Criteria

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Chap 2 Organization Strategy

  • 1. Organization Strategy and Project selection
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 10. Strategy formulation and implementation in the strategic management process.
  • 11.
  • 12.
  • 13.
  • 14.
  • 15. Characteristics of Objectives EXHIBIT 2. 1 S Specific Be specific in targeting an objective M Measurable Establish a measurable indicator(s) of progress A Assignable Make the objective assignable to one person for completion R Realistic State what can realistically be done with available resources T Time related
  • 16.
  • 17.
  • 18. Portfolio of Projects by Type FIGURE 2.2
  • 19.
  • 20.
  • 21.
  • 22. Example: Calculating the Payback Period and Internal Rate of Return Both projects are estimated to have constant annual savings over the next 5 years. Payback criteria for this company- must be within 5 year horizon
  • 23. Example: Calculating the Net Present Value Reconsider the same 2 projects with a 15% discount rate, 5 year Time Horizon
  • 24. Project Screening Matrix Example FIGURE 2.3
  • 25.
  • 26.
  • 27.
  • 29.
  • 30.
  • 32.
  • 33. Possible Evaluation Criteria When Classifying And Ranking Projects Level of technical difficulty to successfully complete the project within given time and resource constraints Technical Difficulty / Risks Number of individuals and the length of time needed to complete the project Project Size / Duration Amount and type of resources the project requires and their availability Resource Availability Extent to which the project is viewed as improving profits, customer service, and so forth and the duration of these benefits Potential Benefits Extent to which the project is viewed as helping the organization achieve its strategic objectives and long-term goals Strategic Alignment Extent to which activities add value and costs when developing products and/or services Value Chain Analysis Description Evaluation Criteria

Editor's Notes

  1. It wouldn’t be a project if it didn’t have an acronym!
  2. Compliance could be because of rules or regulations, or contractual obligations, or perhaps fixes to critical bugs or flaws in the existing products Most companies have a balance of these 3 Operational projects- support current operations (me- shorter term projects) Fine line between Operational and Strategic -IMHO
  3. Would we do either or both project? Both Which project appears to be better? IRR greater, payback shorter for A than B
  4. We would reject B, do A Common discount rates are between 15-20%
  5. Project 1: 1*2.0 + 8*3.0 + 2*2.0 + 6*2.5+ 0*1 + 6*1 + 5* 3.0= 66 How do we rank the projects? 5 is the best, 2 is the worst Can change the weights around. This method is somewhat arbitrary, if are going to use, consider changing the weights to see if the mix changes
  6. Note that X axis is … GIVEN success… but remember that success is not guaranteed, especially for low tech feasible projects