Recently, numerous the world's major project management organizations took important initiatives to illuminate government management in regards to the strategic value and advantages of project management. The focus would be to move from individual project management to organisational project management, which these companies maintain is a strategic advantage in a competitive economy.

In this essay, Ed Naughton, Director General of the Institute of Project Management and current IPMA Vice President, asks Professor Sebastian Green, Dean of the Faculty of Commerce and Professor of Management and Marketing at University College Cork (formerly of the London Business School), about his views of strategic project management as a car for competitive advantage.

Ed: What do you issue proper Project Management is?

Prof. Green: Strategic project management may be the management of those projects that are of crucial importance to help the enterprise in general to own competitive advantage.

Ed: And what defines a competitive advantage, then?

Prof. To get additional information, consider taking a gaze at: glyconutrient. Green: You can find three qualities of getting a core competence. The three features are: it adds value to customers; it's not simply imitated; it opens up new possibilities later on.

Ed: But just how can project administration provide a competitive advantage?

Prof. Green: You will find two factors to project management. One aspect is the actual collection of the type of projects that the enterprise engages in, and subsequently there is execution, how a projects themselves are handled.

Ed: Competitive advantage - the value of choosing the correct projects - it is not easy to determine which projects must be selected!

Prof. Green: I believe that the choice 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.

So, to take an illustration, if a company's competitive advantage is introducing new services more quickly than others, pharmaceuticals, let us say, getting product to market more quickly, then the projects that enable it to obtain the product more quickly to market are going to be the most important ones, even if within their own terms, they do not have higher productivity than some other projects.

Ed: But when we're going to select our jobs, we've to establish what're the details or measurements we're going to select them against that give us the competitive edge.

Prof. Green: Completely. The business needs to know which activities it is involved in, which are the critical ones for it competitive advantage and then, that drives the choice of projects. Organisations are not excellent at doing that and they could not even know what those activities are. They will believe it is anything they do because of the energy system.

Ed: If an organization formulates its strategy, then what the project management group says is that project management could be the method for giving that strategy. So therefore, when the enterprise is good at doing project management, is there any strategic advantage?

Prof. Green: Well, I suppose that returns to this problem of the difference between the type of projects that are plumped for and the way you manage the projects. To learn more, we know you view at: ambrotose. Clicking renu 28 seemingly provides tips you should tell your aunt. Obviously selecting the type of projects depends upon being able to link and prioritise projects ac-cording to an understanding of what the capacity of an enterprise is in accordance with others.

Ed: Let's assume the technique is about. To be able to provide the strategy, it has to be broken down, decomposed into a number of projects. Therefore, you should be great at doing project management to deliver the strategy. Today, the literature says that for an operation to become great at doing projects it has to: put in project management procedures, train people on how 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 using those three methods offer a competitive advantage for this company?

Prof. More Information includes additional info concerning the meaning behind this belief. Green: Where project management, or how you handle tasks, becomes a source of competitive advantage is when you can do things a lot better than the others. The 'a lot better than' is through the ability and judgement and the information which can be developed with time of managing projects. There's an event curve effect here. Two enterprises will be at various points in the experience curve regarding information they've developed to manage those items of projects where the rule book is insufficient. You-need experience and management sense because however good the rule book is, it'll never deal fully with the complexity of life. You have to manage down the experience curve, you have to manage the learning and knowledge that you've of the three aspects of project management for it to become proper.

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

Prof. Green: Not the softer aspects and not the devel-opment of tacit understanding of having run many, many jobs over-time. So, for instance, you, Ed, have more knowledge of just how to run projects than other people. That's why people stumbled on you, since while you both may have a regular book including the PMBoK or even the ICB, you have produced more experiential knowledge around it.

In essence, it could be imitated a quantity of the way in which, although not when you arrange the softer tacit knowledge of experience into it.

Ed: Organisational project management maturity models are a hot topic at the moment and are directly for this 'experience curve' effect you mentioned earlier in the day - how should we see them?

Prof. Green: I believe in moving beyond painting by figures, moving beyond the idea that that's all you have to do and you can demand this set of processes and capabilities and text book standards and a business is totally plastic. In ways, exactly the same problem was experienced by the builders of the experience curve. If you show the experience curve to organizations o-n cost, it is almost like, for each doubling of volume, cost savings occur without you being forced to do any such thing. What we all know is however, that the experience curve is a potential of a risk. Their' realisation depends on the skill of professionals.

Ed: Are senior executives/chief executives in the mindset to understand the possible advantages of project management?

Prof. Green: Until recently, project management has promoted itself in technical terms. Then it would be more attractive to senior managers, if it was offered in terms of the integration at normal management, at the ability to manage throughout the characteristics lending strategy procedures with judgement. So, it's about the ability that produces project management so effective, the techniques using the sense and the mixing of the hard and the gentle. If senior executives don't grasp it at this time, it is maybe not because they are wrong. It is because project management hasn't promoted it self as effortlessly as it should've done.

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

Prof. Green: No, I think we have to show them how it does it. We need to go inside and actually show them how they are able to use it, not just in terms of offering tasks on time and within cost. We have to demonstrate to them how they can use it to over come resistance to change, how they can use it to enhance capabilities and actions that cause competitive advantage, how they can use it to enhance the tacit knowledge in the enterprise. There is a whole range of ways that they are able to use it. They should note that the proof-of the outcome is better than the way in which they're currently doing it..