Recently, numerous the world's major project management firms have taken important initiatives to illuminate government management about the strategic value and advantages of project management. The focus would be to move from specific project management to organisational project management, which these firms keep is a strategic advantage in a competitive economy.

In this article, Ed Naughton, Director-general of the Institute of Project Management and recent IPMA Vice-president, requires Professor Sebastian Green, Dean of the Faculty of Commerce and Professor of Management and Marketing at University College Cork (previously of the London Business School), about his views of strategic project management as an automobile for competitive advantage.

Ed: What do you thing proper Project Management is?

Prof. Green: Strategic project management is the management of those projects that are of crucial importance to allow the business in general to own competitive advantage.

Ed: And what defines a competitive advantage, then?

Prof. Green: You will find three attributes of experiencing a core competence. The three characteristics are: it gives value to customers; it's maybe not simply imitated; it opens up new possibilities later on. Dig up more on this related site by going to mannatech australia.

Ed: But just how can challenge management generate a competitive advantage?

Prof. Green: You can find two elements to project management. One element is the actual collection of the type of projects that the company engages in, and subsequently there is execution, how a projects themselves are handled.

Ed: Competitive advantage - the value of choosing the correct projects - it's challenging to establish which projects ought to be selected!

Prof. Green: I think that the selection and prioritisation of projects is something that's not been done well within-the project management literature because it's generally been thought away through reducing it to financial analysis. The strategic imperative gives another way to you of prioritising projects as it is saying that some projects may not be as profitable as others, but if they add to our expertise relative to others, then that is going to be important.

Therefore, to take an illustration, if a company's competitive advantage is introducing services more quickly than others, pharmaceuticals, let's say, getting product to market more quickly, then the projects that allow it to obtain the product more quickly to market are likely to function as the most important types, even if within their own terms, they don't have higher success than various projects.

Ed: But if we're going to select our projects, we have to establish what're the parameters or metrics we're going to select them against that give us the competitive advantage.

Prof. Green: Definitely. The organisation has to know which activities it's involved in, which are the important ones for it then and competitive advantage, that drives the selection of projects. Companies are not excellent at doing that and they might not even understand what these actions are. They'll believe that it is everything they do because of the energy system.

Ed: If its strategy is formulated by a company, then what the project management community says is that project management will be the medium for delivering that strategy. Then, if the enterprise is great at doing project management, are there any strategic advantage?

Prof. Green: Well, I guess that returns to this issue of the difference between the kind of projects that are opted for and the way you manage the projects. Clearly selecting the sort of projects depends on being able to link and prioritise projects according to a knowledge of what the capacity of an operation is in accordance with others.

Ed: Let's assume that the strategy is set. In order to produce the strategy, it has to be divided, decomposed into a number of jobs. Therefore, you should be great at doing project management to supply the strategy. Now, the literature says that for an enterprise to be great at doing projects it has to: put in project management procedures, train people on how best to apply/do project management and co-ordinate the efforts of the people trained to work to procedures in and built-in way utilizing the concept of a project office. Does taking those three ways produce a competitive advantage for this business?

Prof. Green: Where project management, or how you handle jobs, becomes a source of competitive advantage is when you may do things better than the others. The 'better-than' is through the experience and reasoning and the knowledge that is built-up with time of managing projects. There's an experience curve effect here. As to the knowledge they have built up to control these items of projects where the rule book is inadequate two companies will be at various points in the experience curve. You need knowledge and management thinking since however good the rule book is, it will never deal entirely using the complexity of life. You have to manage down the experience curve, you've to manage the learning and understanding that you have of those three facets of project management for this to become strategic.

Ed: Well, then, I do believe there's a gap there that has to be addressed as well, in that we have now developed a competency at doing project management to do projects, but we have not aligned that competency to the selection of projects which will help us to give this competitive advantage. Is project management capable of being imitated?

Prof. Green: Not the softer aspects and not the devel-opment of tacit understanding of having run many, many projects with time. Therefore, for instance, you, Ed, do have more knowledge of how to work projects than other people. That is why people found you, since while you both may have a standard book like the PMBoK or even the ICB, you've produced more experiential knowledge around it.

Basically, it may be copied a specific amount of the way, but not whenever you arrange the softer tacit understanding of experience into it.

Ed: Organisational project management maturity types are a hot topic at this time and are directly linked to the 'experience curve' effect you mentioned ear-lier - how should we view them?

Prof. Green: I really believe in moving beyond painting by numbers, moving beyond the idea that that is all you need to do and you may demand this set of skills and techniques and text book practices and an enterprise is wholly plastic. In ways, just the same difficulty was experienced by the developers of the ability curve. If you show the knowledge curve to companies on cost, it is nearly like, for each doubling of size, cost savings occur without you being forced to do something. What we all know is nevertheless, the experience curve is a potential of the possibility. Their' realisation depends on the skill of administrators.

Ed: Are senior executives/chief executives within the attitude to appreciate the possible advantages of project management?

Prof. This unusual glyconutrients website has oodles of refreshing aids for the meaning behind this idea. Green: Until recently, project management has offered it self in technical terms. If it was promoted in terms of the integration at common management, at the ability to manage throughout the characteristics lending technique procedures with reasoning, then it'd become more appealing to senior managers. So, it is about the blending of the soft and the hard, the strategies using the sense and the experience which makes project management so strong. My sister discovered view site by browsing Bing. If senior executives do not embrace it at the moment, it's not as they are wrong. It is because project management hasn't marketed itself as efficiently as it should've done.

Ed: Do we must sell to chief executives and senior executives that it'll provide competitive advantage to them?

Prof. Green: No, I think we have to demonstrate to them how it does it. We must get in there and really show them how they are able to use it, not just in terms of providing jobs on time and within cost. We must show them how they can use it to over come organisational resistance to change, how they can use it to enhance capabilities and actions that cause competitive edge, how they can use it to enhance the tacit knowledge in the organisation. There's a complete range of ways that they are able to utilize it. They need to see that the evidence of the outcome is better than the way in which they are currently doing it..

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