Linking Project Management to Business Strategy
Organizations often focus on short-term results, such as immediate financial goals. However, projects are expected to achieve results that link back to an organization’s overall business strategy. This apparent discrepancy led researchers to ask: What does it mean to link project management strategy to business strategy?
In Linking Project Management to Business Strategy, researchers were guided by the hypothesis: If projects are successful in aligning their efforts with the business strategy, they will better contribute to the long-term goals of the organization.
Linking Project Management to Business Strategy is divided into three sections:
Conceptual Foundation provides definitions for terms in found in later sections and creates the conceptual and theoretical framework for examining the issue of strategic alignment
Empirical Verification examines the previously developed frameworks in order to test the original hypothesis
Beyond the Framework analyzes 18 successful projects and identifies the 11 common factors found in all of them
Strategic alignment is a two-way process. Overall business strategy informs project planning and in turn, project success impacts enterprise success. Strategic alignment of a project takes into account strategic focus, operational efficiency and team leadership. The extent to which a project is focused on each dimension determines the level of “strategic maturity” for a given project. Research has shown that higher levels of strategic maturity are associated with higher levels of project success.