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Articles Tagged 'strategy'

  • How to prioritise your projects
    priority

    Projects are pieces of capital investment and how you allocate capital directly impacts your future operations, competitiveness and profits. Jed Simms outlines the five steps to ensure your projects are prioritised correctly.

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    Advanced, Blogs
  • Contributing factors in optimal project portfolio selection—Doug Wheeler
    Basic portfolio management: project selection

    Contributing factors in optimal project portfolio selection
    The selection of projects and programs of work is a key function of both public and private sector organisations. Ideally, projects and programs that are selected to be undertaken are consistent with strategic objectives for the organisation; will provide value for money and return on investment; will be adequately resourced and prioritised; will not compete with general operations for resources and not restrict the ability of operations to provide income to the organisation; will match the capacity and capability of the organisation to deliver; and will produce outputs that are willingly accepted by end users and customers.

    A modified Delphi approach has been applied in this study to investigate best practice and to determine the factors that contribute to optimal selection of projects, and the associated strategic level decision making.

    There are various standards and practices that some may recognise as representing best practice in this area. Many of these have similar characteristics and this study has found no single best practice. Each of the participants in the study related to practices that are appropriate to the organisation, the size and nature of the candidate projects, the regulatory environment, its stakeholders, and the experience and capability of its personnel.The study identified the factors that contribute to the optimal selection of projects as: culture, process, knowledge of the business, knowledge of the work, education, experience, governance, risk awareness, selection of players, preconceptions, and time pressures. All these factors were found to be significant; to be appropriate to public sector organisations, private sector organisations and government owned corporations; and to have a strong linkage to research on strategic decision making. These factors can be consolidated into two underlying factors of
    organisation culture and leadership.

    The significance of the conclusions from this research is that organisations that do not give due consideration to the underlying drivers of organisation culture and leadership, will continue to make sub-optimal decisions on the billions of dollars they invest in projects each year.

    Author: Doug Wheeler
    Review status: Presented at the AIPM 2014 National Conference

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    Whitepapers
  • Demystifying project benefits
    Achieving project benefits

    Many claimed ‘benefits’ really are not benefits at all in many cases. Unless somebody wants and uses the results of an organisation’s projects there can be no benefits. Dr Phil Driver has a way to make sure all your projects contain benefits.

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    Benefits Realisation
  • Military strategies for better resource planning—Jerry Manas
    defence

    Ten proven military strategies for better resource planning
    Custer’s Last Stand, otherwise known as the Battle of the Little Bighorn, has almost become synonymous with failure. The year was 1876, and Custer was part of an army campaign to force Native American tribes off the gold-rich lands in South Dakota’s Black Hills.

    He’d been warned that the territory was well defended by thousands of Sioux and Cheyenne Indians (as they were called at the time, thanks to the early European settlers in the New World mistakenly believing they were in India). Instead of planning a surprise attack or waiting for reinforcements as he was ordered, he decided to charge full speed ahead with all his troops toward the Little Bighorn River, in what is now Montana. As could be expected, they were easily defeated, with Custer and all 265 men in his regiment losing their lives, save for a sole half-Indian scout.

    What can we learn from this about resource management? On the surface, the failure lesson seems obvious: Don’t go fool-heartedly into a sure failure where you’re grossly understaffed and all the odds are against you (a mistake organizations seem to make on a regular basis). But as we dig deeper, there’s more to this story.

    Author: Jerry Manas
    Review status: N/A

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    Whitepapers
  • Strategy needed for project procurement
    procurement

    By adopting a strategic approach to procurement, organisations can overcome the three major sins of project procurement, writes Kieran Fordham. But how can we achieve the optimal approach and secure the best possible project outcomes?

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    Scope