Project Management Strategy

Strategy in project management refers to the overarching approach and plan for achieving the project's goals and objectives. It is a high-level plan that guides the overall direction and decision-making of a project.

a)Determinants of national advantage

b)International branding

c)Competitive advantage and needs satisfaction

d)Winners and global organisations

e)Major changes in balance of activities and wealth

f)The 12 pillars of competitiveness

g)Other sources of global information?

?Pillar 1: Institutions

?Pillar 2: Infrastructure

?Pillar 3: Macroeconomic environment

?Pillar 4: Health and primary education

?Pillar 5: HE and training

?Pillar 6: Goods market efficiency

?Pillar 7:Labour market efficiency

?Pillar 8:Financial market development

?Pillar 9:Technological readiness

?Pillar 10: Market size

?Pillar 11:Business Sophistication

?Pillar 12: Innovation

Risks of Cost Leadership

?competitors imitate

? technology changes

? other bases for cost leadership??erode

?Cost proximity is lost

Cost focusers achieve even lower cost in segments

Risks of Differentiation

? competitors imitate

? bases for differentiation become less important for buyers

?Differentiation proximity is lost

Differentiation focusers achieve even greater differentiation in segments

Risks of Focus

The focus strategy is imitated

? demand disappears

?Broadly targeted competitors overwhelm the segment

?segment narrows

? the advantages of a broad line increase

New focusers sub segment the industry

a)Strategic vision defined

b)Customer value

c)Strategies for growth

d)Options for market entry

e)Driving forces of internationalisation

f)Vicious or virtuous spirals

g)Using retailing as an example

IMPACT ON A LEADER

Be aware of cultural and age/demographic issues

-Engage in cultural and diversity awareness

-Accommodate differences

-Scan for continuous opportunities

-Keep up-to-date/integrate

-Appreciate change management

-Welcome uncertainty expectancy?& be proactive

-Create a mutual ‘fit’

-Leverage all resources?

1. Defining the project's scope: This includes identifying what the project will and will not include, as well as defining the project's objectives and goals.
2. Identifying stakeholders: This includes identifying all parties who will be affected by the project, including internal and external stakeholders.
3. Assessing the project's feasibility: This includes evaluating the resources required, the potential risks and challenges, and the overall likelihood of success.
4. Developing a project plan: This includes creating a detailed plan outlining the tasks, timelines, and resources required to achieve the project's goals and objectives.
5. Identifying and managing risks: This includes identifying potential risks and developing a plan to mitigate or manage them.
6. Managing change: This includes being prepared for changes in the project's scope, timeline, or resources and having a plan in place to manage them.
7. Continuously monitoring and adjusting the project plan: This includes regularly reviewing the project's progress and making adjustments as needed to ensure the project stays on track.

Overall, strategy in project management is about having a clear plan and direction for the project, and being prepared to adapt and make changes as necessary to ensure the project's success.