Relationship Of Project For Business Operations

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Relationship of project to strategy of the business

Surrena Hooks

MSL 5080-13D-3B15-S1, Methods of Analysis for Business Operations
February 17, 2015

The aim of this research papers is to illustrate a linkage between project strategies to the overall strategy of the business. Unfortunately, there has been limited research, frameworks and matrixes performed in this area to be used for any concrete decision making. Currently, organizations do not comprehend the risks they are taking by not linking their project strategy and management strategy with organizational goals. Further, the way an organization perceive the project’s strategy and management effects the overall execution. Thus, this paper sheds light on two main
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Project’s Value Understanding
Basically, it is not enough for manager to only have a good grasp of strategic value for the project execution, there have been studies illustrating that projects should use their own strategy so that its execution (Arnaboldi et al.2004; Anderson and Merna, 2001) is independent and is not restricted by organizational goals. However, there are instances where some innovative projects are essential for the progression of the organization. Further, these projects require autonomy with respect to the execution. In addition, there are conditions where accurate dynamics for these projects are essential while assessing the implementation phase with the overall organizational strategy.

Portfolio Management: Effective Tracking
The second major process that is heavily examined in projects is portfolio management. This is an essential area to be observed by managers because projects in countless organizations are performed in an ad-hoc manner. Further, managers often select various processes in an informal decision making process as a result of some internal requirements.

Furthermore, this informal initiation of the project may also affect the execution requirements and priorities are also taken into consideration in a very informal way by the organization. This leads to altering the priorities of resources which might negatively impact the execution of
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