1. Explain the role that projects play in the strategic management process – why should
every project manager understand their organizations vision, mission and strategy.
Whatever direction a firm wants to go in it will accomplish the goals through projects.
Projects help define the mission, vision, and goals of an organization. In a rapidly
changing business environment, projects are the means by which companies develop new
products and services. Since about the 1990s a dramatic change has taken place with
companies being run a little differently than in the past. As companies restructure to
strengthen their competitiveness, projects have become the focus. Whether they are
developing new products or delivering better service, projects are the new focus of
organizations.
With this new focus the institutionalizing of this practice known as enterprise project
management (EPM) has become the organizational choice of accomplishing tasks.
Every project manager needs to understand their organizations vision or goals because that
is how they as an individual employee will be successful in their career with this
organization. By being successful at this they will set realistic expectations about the cost,
schedule, and quality equilibrium with all the projects stakeholders. They will be expected
to manage expectations throughout the project. If the equilibrium changes, make sure
everybody knows and accepts the new equilibrium. Also, they need to deliver the promised
product, on time and within budget.