Strategic Project Management

Abstract

IT development has enabled better management functions across all industries, inspiring many organizations to adopt process-centric business models. Introducing extensive change to business and related processes are usually planed at strategic level and then realized through initiatives such as projects or larger programs consisting of several related projects. For larger organizations involved in many development projects, (companies providing IT-solutions for example) project portfolios can be used to strategically manage and balance projects. In this context, organizations seek to develop their strategic project management capabilities in order to stay competitive and ensure strategic goals are successfully delivered. However, there are plenty of methodologies to choose from and also a noted deal of confusion surrounding the concepts of strategically managing projects, as identified by several sources. This leads to the purpose of the study; exploring the strategic relationship of project management (PM), program management (PgM) and project portfolio management (PPM). The methodology selected for the study begun with a theoretical study, creating a framework by exploring concepts related to the research question. Next, a review of literary sources from major authorities within the project management field was consulted, specifically on the subject of the research question. Finally, central concepts found in the theoretical study was brought to the empirical study and further explored in interviews conducted with experienced project management professionals. The findings of the two studies resulted in a number of key factors related to the concept of strategic project management relationship. The main conclusion discovered that the strategic relationship of project, program and project portfolio management depends on the organizational context where it is applied. This context can comprise of a number of factors, the most prevalent and commonly referred to in the findings of this study being organizational maturity representing the chosen organizational methodology in relation to the size of the organization.