preview

The Methods For Strategic Goal Creation And Evaluation

Decent Essays

Introduction
The methods for strategic goal creation and evaluation are very important for the business growth. The methods will help the organization to increase knowledge, productivity and market share. Also, the benefits of using the mentioned methods will improve innovation, the use of resources, risk management, and making the right decision which all needed in order to take the organization to the next level and keep the business stay ahead of the competition. The main issue is “what is the consequences of not using strategic goal creation and evaluation in the project portfolio management process?” They are many organizations are ignoring the importance of the IT portfolio management which includes the strategic goal of the organization that is necessary for any IT investments.

Description
In large organizations, all the three domains, projects, programs, and portfolios, have to meet the maturity standards. The IT portfolio plays high-level strategic roles by ensuring that project investments are being managed most appropriately. The main benefit of IT portfolio management is enabling measurement and objective evaluation of IT investments and alignment with the business strategy which will maximize the value of IT investments while minimizing risk. However, the ignoring of the IT portfolio management will impact negatively on the communication and alignment between IT and business leaders, which lead to the wrong distribution of the resources and budgets on projects

Get Access