Linking Project Management with Business Strategy
affiliation not provided to SSRN
October 1, 2006
Recognition of the strategic importance of project management (PM) in the corporate world is rapidly accelerating. One reason for this may be a strong belief by business leaders that aligning PM with business strategy can significantly enhance the achievement of organizational goals, strategies, and performance. However, empirical literature that offers advice on how to achieve this alignment is scanty. Many companies are suffering from misaligned projects and a lack of a systematic approach to align PM with the business strategy. Although projects are the basic building blocks of organizational strategy in many companies, PM is not often recognized as a functional strategy and is rarely perceived as a business process, making the achievement of a PM/business strategy alignment even more difficult. Understanding the PM/business strategy alignment may be a major challenge, one that practitioners must confront when they attempt to effectively manage their projects in today’s competitive environment.
This study addresses three aspects of an under-researched topic in the strategic management literature, aligning project management with business strategy, by examining the PM/business strategy alignment in terms of:
(1) a two-way influence between PM and business strategy (the nature of the PM/business strategy alignment),
(2) a process used for achieving the PM/ business strategy alignment, and
(3) the degree to which a project is aligned with a business strategy (an alignment score).
In particular, an empirically based theoretical framework is developed that highlights the impact of business strategy on PM (and vice-versa) and the mechanisms used to strengthen that alignment, whereas the alignment scores are calculated to quantitatively complement data from interviews.
The James R. Snyder International Student Paper of the Year Award, the 2006 PMI Global Congress Proceedings: North America, Seattle WA.
Number of Pages in PDF File: 10
Keywords: project management, business strategy, strategic alignmentworking papers series
Date posted: May 27, 2009
© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo7 in 0.281 seconds