Strategic project management-project strategy and measurement of success

Abstract

Relevant research has shown (The Standish Group Reports, 2009) that a large number of organizations do not achieve the set goals in the execution of their projects-the completion of the project in the predicted time period, within the budget, and with the agreed quality, among others. On the other hand, a more serious problem is that many of them seem to fail to achieve business goals, while it is a commonplace that the desired results fail to be achieved in either group. The majority of organizations strive to improve the execution of their projects in a traditional way, for example, through employees’ education, work process improvement, introduction of software support, etc. The focus on these elements only results in a limitation as to how much the effectiveness and efficiency of the project execution can be improved, especially from the aspect of the organization achieving its goals. In order to achieve a higher competitive advantage, the real improvements have to be closely linked to the strategic aspect of project management.