Execution of Strategic Projects
Strategic projects are large scale initiatives of mid to large sized companies, usually formulated through the strategic or business planning process. Critical to success is an effective governance process that oversees the execution of these initiatives. In addition to coordinating the various projects, it ensures that they are properly prioritized and planned, resources are appropriately allocated, the implementation process is effective, and expected results are achieved.
Purpose
To ensure that efforts and resources are properly deployed so as to achieve the goals as identified in the overall strategic/business plan.
Process
- Review the goals of the organization.
- Examine the objectives for each project and the anticipated contribution to overall organizational goals.
- Assess the costs, risks, and resource requirements.
- Rank, prioritize and sequence the projects.
- Oversee implementation, resolve issues and track progress.
- Create project scorecards and report regularly.
- Upon completion, conduct a full review of each project with particular focus on benefit realization.
Results
A process to govern the implementation of strategic projects that delivers the expected results, accomplishes the goals of the plan, and realizes the overall strategic vision of the organization.