You all know the power of project management. It helps the project runs smoother, better allocation of budget and resources etc., etc., etc.
Everybody talks about the importance of aligning project management with organisational strategies, but no one goes deeper than that; no one goes beyond project planning, scheduling, or implementation.
So let’s look at things from another angle today.
Let’s talk about the benefits of aligning strategy to project management. Sure, you can gain better, more comprehensive knowledge from a professional certificate in project management, but how about you take a sneak peek first and gain the in-depth knowledge after?
What is the importance of strategy implementation to a project?
1. It Goes Beyond Simple Business Planning
More often than not, projects managers who have had success in getting an organisation up and running feel tempted to apply the same principles to their strategies. However, it is not the way to go.
Business plans are designed to provide an organisation or project the ground to build up. Simply put, business plans are the launching stations for the organisation. On the other hand, strategies are used to communicate your vision to the staff and get projects implemented successfully and with greater efficiency.
Furthermore, business planning aims to assess how much funding your project requires. On the other hand, strategic planning determines how and where the funds will be allocated during the course of the project.
2. Takes Project Evaluation to the Next Level
Comprehensive strategic plans cover every aspect of project management, ranging from industry analysis, SWOT analysis, company analysis, including performance and goals, etc., thus facilitating decision making and enhancing efficiency.
Whether your project is sailing through or stuck in the mud, strategies have one purpose – to move your project forward and overcome the critical challenges related to project management, no matter where you are.
3. Increases Project Communication
67% of HR and IT departments are following strategies that are NOT in line with the overall organisational strategy due to lack of communication.
That’s dangerous. It is the responsibility of the project managers to make their teams aware of the strategic plan that is being devised for the next project, what they aim to achieve, and how it is in line with the organisation’s long term vision and mission. Furthermore, project managers are also required to hear ideas and plans from each department so they can curate an overall strategy that every department can adhere to.
Communicating project strategy keeps every member of the organisation in the loop and builds morale, especially at the lower level, as employees feel that their voice can be heard.
4. Reduces Resource Misallocation
Just as strategies ensure increased and streamline communication, they also help manage resources more effectively. Strategy planning goes in-depth into evaluating the available resources and helps project managers make informed decisions about evaluating, monitoring, and adjusting project resource allocation to where they are needed most.
Furthermore, it also identifies what you have to work with, how to assign human and financial resources to avoid any snares that could cripple the project’s progress. If you pursue a credible professional certificate in project management, you’ll understand the importance of resource allocation and how to do it effectively.
5. Ensures Consistent Team Engagement
This may be hard to believe, but only 23% of companies have a cohesive strategy in place for project management.
And people wonder why so many projects run over budget or miss deadlines. This is where strategic planning comes to the rescue. With a robust strategy in place, not only will you be able to plan every step of your project, but your staff be more engaged to contribute throughout the duration of the project.
As a project manager, you are not executing the strategy, so ensure that there is an open dialogue, and clear communication is encouraged for lower-level managers and staff, who will implement the strategy.
One such credible online program that can help you ensure consistent team engagement is the IIM Raipur certification course in project management. This course, offered on the Talentedge platform, boasts the most comprehensive and well-rounded curriculum. What’s more, the professional certificate in project management from IIM Raipur is in high demand from aspiring as well as established project managers.
So whether you strive to update or advance your knowledge or enter the domain, the IIM Raipur certification course in project management is the ideal choice.
6. Increases Success Rate of the Project
- Projects that are backed by robust strategies are 57% more likely to deliver their organisation benefit.
- Also, such projects are 50% more likely to finish on time and 45% more likely to stay within budget.
Don’t you want to run such high success projects? Well, strategy is the devil behind this increased success rate. So formulate robust strategies while developing and implementing a project. Whether it is for value creation, sponsorship, resource allocation, elimination of waste, you must have a strategy in place for every facet of your project.
If you are scouting for a credible online course in project management that can help you formulate strategies to increase the success rate of your projects, the IIM Raipur certification course in project management is it. The unique LIVE & interactive pedagogy, the well-crafted curriculum, and the eminent faculty of IIM Raipur are all contributing factors that make this online course the best in its class.
Strategy, Project Management, Your Organization, and Your Career
Now you know how valuable strategy formulation is for project management and how leveraging it can increase your project’s chances of success.
A credible professional certificate in project management is all you need. By helping you take control of your organisation’s strategy formulation, these courses can help you turn vision into real-life results. However, project management doesn’t suffice; you need basic general management skills to thrive in this domain.
One such online certification program you can rely on is the IIM Raipur certification course in project management. This course may not be able to help you differentiate between project and general management but encompasses every facet of both worlds.
So enrol for the project management certification from IIM Raipur, gain the required skill sets and the knowledge and take your projects to maximum capacity.
More Information:
7 Skills to Become a Successful Project Manager
Benefits of Building a Career in Project Management