strategic planning for project success (malav)

8/12/2019 Strategic Planning for Project Success (MALAV)

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STRATEGICPLANNINGFORPROJECTSUCCESS

Prepared By: Malav Mehta (08BEC159)

Hardik Songara (08BEC169)


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OUTLINES

What is Strategic Planning?

Why we need to do Strategic Planning?

The Generic Process.

What Strategic Planning Is Not? Strategic Excellence Positions.

Strategic Implementation.


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WHATISSTRATEGICPLANNING?

A process for determining

Where you are

Where you intend to be

How youre going to get there


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DEFINATIONOFSTRATEGICPLANNING?

Strategic Planning is a planning for the fulfillment

of the Organizations fundamental purposes. It

includes the process of establishing and clarifying

purposes, and determining the major means and

Pathways (Strategies) through which theseobjectives will be pursued.


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WHYWENEEDTODOSTRATEGICPLANNING?

To control the things you can control and deal with

the things you cant

Understand your local economy.

Evaluate possible approaches. Target your limited resources.

Set performance objectives.

Tell your board and the public what you are going to

do. Manage your career.


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THEGENERICPROCESS

Define

current

state

Analyze trends

Define future

state

Analyze gap

Develop plan


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GETTINGPREPARED

Make it a group projectinvite everyone to

participate

Make decisions by consensus, not majority rule

If possible, get a neutral facilitator Question everything, ASSUME NOTHINGbe

prepared to put yourself out of business

As manager, you set the tonebe careful about

what you say and do, discuss the undiscussable


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GETTINGPREPARED(CONTINUED)

Look five years out

Allow enough time (6 months minimum)

Plan series of two-day meetings with several weeks

between each session


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DEFININGTHECURRENTSTATE

Business definition

Customer analysis

Competitor analysis

Strengths/weaknesses/opportunities/threats(SWOT) analysis


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ANALYZETRENDS

External forces that drive businesses:

Economics

Resources and environment

International factors

Social change

Technology

Politics


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DEFININGTHEFUTURESTATE

What it takes to win

Vision


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ANALYZINGTHEGAP

You know where you are (current state)

You know where you intend to be (future

state/vision)

So how do you get there? Get everyone involved

Develop a list of all the obstacles to getting to the

various elements of the future state (everyone

brainstorms with Post-Its) Consolidate duplicates and categorize

Use the list of obstacles to create a roadmap/plan


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PROMOTINGYOURVISIONANDPLAN

Publicize and promote vision/plan with critical

stakeholders:

Your organization

Your management Business partners, especially key decision-makers

Other organizations in your company, especially

those with information-related competencies

Vendors from whom you buy products/services Discuss ways in which you can obtain recognition

for your vision and plan.


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WHATSTRATEGICPLANNINGISNOT

An attempt to predict the future

An extrapolation of current trends

An extension of the past

A vision of the futureA short-term correction


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STRATEGICEXCELLENCEPOSITIONS

WITHOUTFOCUSES


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STRATEGICEXCELLENCEPOSITIONSStrategic success means to achieve better and more stable resultsthan the competition. Achieving that requires superior

competence, or the ability to excel, in a set of distinctive

capabilities which have special value to a particular part of the

marketplace.

Note that excellence by itself is not enough. It must be excellence

in areas of strategic significance, i.e., that determine the outcome

of competition in the marketplace.

That strategic excellence then forms the basis for the organization

to achieve better results than the competition. In this sense it is aposition which the organization occupies from which follows

strategic success.


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STRATEGICIMPLEMENTATION

Direct Means

Indirect Means

Time Related Aspects


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DIRECTMEANS

Action Plans and Project Plans

Procedures/Management Systems

Planning and Budgeting

Management Information Systems

Organizational Structure.


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INDIRECTMEANS

Communication

Symbolic Actions

Institutionalizing Actions

Fostering Innovation

Corporate Culture.


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TIMERELATEDASPECTS

Research and Development

Manufacturing Life Cycle

Marketing Cycle

Economic Trends

Competition


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LIMITATIONSOFSTRATEGICMANAGEMENT

Many theories of strategic management tend to

undergo only brief periods of popularity. A summary

of these theories thus inevitably exhibits

survivorship bias (itself an area of research in

strategic management). Many theories tend eitherto be too narrow in focus to build a complete

corporate strategy on, or too general and abstract

to be applicable to specific situations. Populism or

faddishness can have an impact on a particulartheory's life cycle and may see application in

inappropriate circumstances. See business

philosophies and popular management theories for

a more critical view of management theories.


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CONCLUSION

Each successful strategy could be a catalyst for a

strategic thinking direction and approach. As a

program or project manager, take the time to

identify the strategies in play in the next business

case or feasibility study you review. If they are notclear in the financial analysis document, do not be

afraid to ask for clarification from your sponsor.


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THANK YOU

strategic planning for project success (malav)

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